Latest data from the Mortgage Bankers Association for the week ending 7 December 2018
- Purchase index 256.1 vs 249.9 prior
- Market index 346.0 vs 340.5 prior
- Refinancing index 851.6 vs 836.4 prior
- 30-year mortgage rate 4.96% vs 5.08% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity rises once again on the week but the notable thing from the report here is that the 30-year mortgage rate has moderated to be under 5.00% once again.
With concerns about the Fed hiking rates next year starting to mount, we're seeing it be reflected in the long-term mortgage rate and that will be a relief for home buyers surely. The dollar is mixed on the day still, holding weaker against the likes of the euro and the pound while gaining against the kiwi and swissie.
