Latest data from the Mortgage Bankers Association for the week ending 5 April 2019
- Prior +18.6%
- Purchase index 278.1 vs 276.6 prior
- Market index 475.6 vs 503.6 prior
- Refinancing index 1,582.6 vs 1,786.0 prior
- 30-year mortgage rate 4.40% vs 4.36% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity fell off slightly after the significantly high jump in the week before but the notable thing here is a rise of 4 bps in the long-term rate. The relatively high rate there is still what will weigh on housing activity in the US for the time being.
