Latest data from the Mortgage Bankers Association for the week ending 28 August 2020
- Prior -6.5%
- Market index 755.1 vs 770.6 prior
- Purchase index 309.6 vs 310.2 prior
- Refinancing index 3,316.2 vs 3,423.0 prior
- 30-year mortgage rate 3.08% vs 3.11% prior
A slight drop in mortgage applications in the past week with purchases and refinancing activity both seeing weakening a touch, despite the long-term rate falling another 3 bps to 3.08% - just shy of the record low posted at the start of August of 3.06%.
The housing market in general is still holding up extremely well in the US and there isn't much here to suggest a major shift in sentiment just yet.
