US MBA mortgage applications w.e. 7 April +5.3% vs -4.1% prior

• Prior -4.1%
• Market index 229.5 vs 217.9 prior
• Purchase index 179.6 vs 166.6 prior
• Refinance index 477.5 vs 477.2 prior
• 30-year mortgage rate 6.30% vs 6.40% prior

The climb down in the average interest rate for the most popular US home loan (as seen below) is continuing to benefit mortgage activity in general over the past two months or so. This time around, purchase activity is seen picking up substantially and that is helping to give a bit of a lift to the market after a rather awful last one year.

/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