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.
It's all about low rates and that continues to drive buying interest. Bubble anyone?
