Latest data from the Mortgage Bankers Association for the week ending 3 September 2021
- Prior -2.4%
- Market index 705.6 vs 719.4 prior
- Purchase index 258.4 vs 259.0 prior
- Refinancing index 3,292.1 vs 3,385.8 prior
- 30-year mortgage rate 3.03% vs 3.03% prior
The drop in mortgage activity in the past week owes to both a fall in purchases and refinancing, reaffirming sentiment surrounding the housing market that high housing prices are likely weighing on demand from new home buyers for the most part. Bubble much?
