US MBA mortgage applications w.e. 10 May +0.5% vs +2.6% prior

  • Latest data from the Mortgage Bankers Association for the week ending 3 May 2024
  • Prior +2.6%
  • Market index 198.1 vs 197.1 prior
  • Purchase index 141.7 vs 144.2 prior
  • Refinance index 499.9 vs 477.5 prior
  • 30-year mortgage rate 7.08% vs 7.18% prior

Mortgage applications were at the margin higher in the past week, owing much to a jump in refinancing activity. That was offset by a fall in purchases activity, as the rate of the most popular US home loan eases slightly by 10 bps.

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