US MBA mortgage applications w.e. 19 August -1.2% vs -2.3% prior

• Prior -2.3%
• Market index 270.1 vs 273.3 prior
• Purchase index 202.8 vs 203.8 prior
• Refinancing index 609.8 vs 627.1 prior
• 30-year mortgage rate 5.65% vs 5.45% prior

There was a notable jump in the average rate for home loans in the past week, following the move higher in bond yields as well. But I wouldn't pin that as the main cause for yet another weekly decline in mortgage activity as the data continues to underscore a deterioration in housing market conditions in general. The trend has been persisting for a while now and eventually, someone on one side of this debate has to be right.

/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