- Prior +0.2%
- Market index 273.3 vs 279.8 prior
- Purchase index 203.8 vs 205.4 prior
- Refinancing index 627.1 vs 662.9 prior
- 30-year mortgage rate 5.45% vs 5.47%
It's quite remarkable that what the data is saying and what markets are deciphering is totally different from the narrative that is being put out by the housing industry. Adam put it nicely in a post yesterday here. The readings above continue to show a collapse in mortgage activity as both purchases and refinancing continue to decline sharply.
