Latest data from the Mortgage Bankers Association for the week ending 3 May 2019
- Prior -7.3%
- Purchase index 270.2 vs 259.4 prior
- Market index 418.1 vs 407.2 prior
- Refinancing index 1,238.5 vs 1,228.3 prior
- 30-year mortgage rate 4.41% vs 4.42% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity improved slightly on the week after encountering a bit of a drag over the past few weeks. The long-term mortgage rate is seen holding at current levels and the lack of a drop will likely keep the housing market pressured and that will be an area of concern for the Fed in the coming months.
