Latest data from the Mortgage Bankers Association for the week ending 29 March 2019
- Prior +8.9%
- Purchase index 276.6 vs 267.5 prior
- Market index 503.6 vs 424.6 prior
- Refinancing index 1,786.0 vs 1,289.5 prior
- 30-year mortgage rate 4.36% vs 4.45% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. A big spike in mortgage activity once again and this comes after the long-term mortgage rate continues to decline further, dropping by 9 bps in the week before with the Fed seen to be on hold for the rest of the year.
Once again, the data here should feed into better housing activity and that should provide some relief following concerns on the US housing market at the start of the year.
