Latest data from the Mortgage Bankers Association for the week ending 27 March 2020
- Prior -29.4%
- Purchase index 211.7 vs 237.4 prior
- Market index 874.6 vs 758.4 prior
- Refinancing index 4,781.1 vs 3,809.3 prior
- 30-year mortgage rate 3.47% vs 3.82% prior
The boost in activity in the past week largely comes on the back of refinancing as purchases slump further, which is reflective of the current economic situation.
Meanwhile, the moderation in yields sees the mortgage rate fall sharply on the week to 3.47% - matching its lowest level in the survey's history.
