US MBA mortgage applications w.e. 16 September +3.8% vs -1.2% prior

• Prior -1.2%
• Market index 264.7 vs 255.0 prior
• Purchase index 200.1 vs 198.1 prior
• Refinancing index 588.1 vs 532.9 prior
• 30-year mortgage rate 6.25% vs 6.01% prior

That's a decent bounce in mortgage activity, mostly due to a jump in refinancing in the past week. But it doesn't take away from the downtrend this year as rising rates weigh more heavily on the housing sector. Despite the jump, the most notable thing of the report is that the mortgage interest rates climbed higher again to 6.25% - its highest since October 2008. For some context, even with the jump in refinancing activity, the index remains 82.7% lower than where it was a year ago.

US Dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term