Latest data from the Mortgage Bankers Association for the week ending 26 October 2018
- Purchase index 224.9 vs 228.4 prior
- Market index 329.5 vs 337.8 prior
- Refinancing index 884.2 vs 919.6 prior
- 30-year mortgage rate 5.11% vs 5.11% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity dipped on the week but nothing too notable. The 30-year mortgage rate continues to hold at a seven-year high and that is something that will cause further strain to households and will be something to look out for in terms of consumption moving forward as borrowing costs continue to rise.
