Latest data from the Mortgage Bankers Association for the week ending 4 January 2019
- Purchase index 255.5 vs 219.0 prior
- Market index 362.7 vs 293.8 prior
- Refinancing index 987.9 vs 729.9 prior
- 30-year mortgage rate 4.74% vs 4.84% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. That's the biggest weekly jump in mortgage activity since October 2015 but it must be noted that January seasonality tends to play a factor in these things so don't look too much into the spike here.
However, it's still an encouraging sign in what has been softer housing data in the US over the past few months. Aside from the spike in mortgage applications, the long-term mortgage rate continues to fall and that will ease the burden for home owners at least.
