US MBA mortgage applications w.e. 8 January +16.7% vs +1.7% prior

Latest data from the Mortgage Bankers Association for the week ending 8 January 2021

• Prior +1.7%

• Market index 965.2 vs 827.2 prior
• Purchase index 338.9 vs 313.8 prior
• Refinancing index 4,706.3 vs 3,917.6 prior
• 30-year mortgage rate 2.88% vs 2.86% prior

That is a major jump in mortgage activity to start the new year, with both purchases and refinancing seeing a significant boost. Again, this just reaffirms that the US housing market continues to hold up rather strongly in light of the virus crisis.