Latest data from the Mortgage Bankers Association for the week ending 21 June 2019
- Prior -3.4%
- Purchase index 266.3 vs 268.6 prior
- Market index 518.7 vs 511.8 prior
- Refinancing index 1,949.5 vs 1,888.8 prior
- 30-year mortgage rate 4.06% vs 4.14% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity showed a modest increase last week amid a further fall in the long-term mortgage rate to 4.06% as the Fed signaled more easing intentions in their latest FOMC meeting.
With the Fed signaling some intentions to ease, it has helped to give a slight boost to mortgage activity but housing activity overall remains rather weak (as it has been recently) as seen from new home sales data overnight here.
