Latest data from the Mortgage Bankers Association for the week ending 27 August 2021
- Prior +1.6%
- Market index 719.4 vs 737.1 prior
- Purchase index 259.0 vs 257.5 prior
- Refinancing index 3,385.8 vs 3,520.7 prior
- 30-year mortgage rate 3.03% vs 3.03% prior
The drop in the past week largely comes a decline in refinancing activity with purchases keeping steadier after the rise in the week before. That said, house prices are still relatively high in the US and that remains a downside factor for new home buyers and will be something to keep an eye out for in the months ahead.
