Latest data from the Mortgage Bankers Association for the week ending 9 October 2020
- Prior +4.6%
- Market index 798.9 vs 804.7 prior
- Purchase index 311.1 vs 316.0 prior
- Refinancing index 3,612.3 vs 3,622.3 prior
- 30-year mortgage rate 3.00% vs 3.01% prior
The long-term mortgage rate falls to a new record low on the survey as the drop in mortgage applications largely stems from a slight moderation in purchase activity. That said, overall purchase levels are still relatively elevated so there isn't any major shift in the recent trend involving the US housing market just yet.