US MBA mortgage applications w.e. 24 May -5.7% vs +1.9% prior

Prior +1.9%Market index 190.3 vs 201.9 priorPurchase index 138.4 vs 140.0 priorRefinance index 463.8 vs 536.9 prior30-year mortgage rate 7.05% vs 7.01% priorThe main cause for the drop in mortgage applications in the past week is a big decline in refinancing activity. It comes after a bit of a bounce in recent weeks. But if anything else, it reaffirms that the housing market is still soft-ish. This article was written by Justin Low at www.forexlive.com.

May 29, 2024 - 19:15
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US MBA mortgage applications w.e. 24 May -5.7% vs +1.9% prior
  • Prior +1.9%
  • Market index 190.3 vs 201.9 prior
  • Purchase index 138.4 vs 140.0 prior
  • Refinance index 463.8 vs 536.9 prior
  • 30-year mortgage rate 7.05% vs 7.01% prior

The main cause for the drop in mortgage applications in the past week is a big decline in refinancing activity. It comes after a bit of a bounce in recent weeks. But if anything else, it reaffirms that the housing market is still soft-ish.

This article was written by Justin Low at www.forexlive.com.
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