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US MBA mortgage applications w.e. 16 February -10.6% vs -2.3% prior

US MBA mortgage applications w.e. 16 February -10.6% vs -2.3% prior

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By Justin Low
21/02/2024 | 12:00 GMT
  • Latest data from the Mortgage Bankers Association for the week ending 16 February 2024
  • Prior -2.3%
  • Market index 181.6 vs 205.1 prior
  • Purchase index 133.6 vs 149.6 prior
  • Refinance index 427.0 vs 489.6 prior
  • 30-year mortgage rate 7.06% vs 6.87% prior

A steep increase in the average rate of the most popular US home loan sees a big drop in mortgage applications in the past week. Both purchase and refinancing activity showed a marked decline, as sentiment remains languid after the opening two months of the year.

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