Latest data from the Mortgage Bankers Association for the week ending 14 May 2021
- Prior +2.1%
- Market index 724.2 vs 715.3 prior
- Purchase index 265.3 vs 276.7 prior
- Refinancing index 3,413.3 vs 3,281.0 prior
- 30-year mortgage rate 3.15% vs 3.11% prior
The jump in mortgage applications in the past week owes much to refinancing activity as purchases is seen dipping again, with a slight bump to the long-term rate observed.
Overall, housing market conditions have met a bit of moderation after having run hot last year as evident with the trend in purchasing activity over the past few months.
