Latest data from the Mortgage Bankers Association for the week ending 30 November 2018
- Purchase index 249.9 vs 247.8 prior
- Market index 340.5 vs 333.7 prior
- Refinancing index 836.4 vs 787.7 prior
- 30-year mortgage rate 5.08% vs 5.12% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. A decent jump in mortgage activity there as the 30-year mortgage rate starts to cool off a little as well. The latter is a bit of welcome news for home buyers but housing will still be one of the key issues for the US economy as we move into next year and as the Fed is still looking to hike rates a couple more times at the very least.
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