US MBA mortgage applications w.e. 8 May +0.3% vs +0.1% prior
Latest data from the Mortgage Bankers Association for the week ending 8 May 2020
- Prior +0.1%
- Purchase index 243.3 vs 220.0 prior
- Market index 746.7 vs 744.2 prior
- Refinancing index 3,709.3 vs 3,835.7 prior
- 30-year mortgage rate 3.43% vs 3.40% prior
Mortgage activity rose slightly as purchases continue to move off the lows from the previous weeks, and that can be taken as a positive signal in terms of housing market conditions at least. Elsewhere, the low rates will also help to spur refinancing activity during this time.