Latest data from the Mortgage Bankers Association for the week ending 15 January 2021
- Prior +16.7%
- Market index 946.8 vs 965.2 prior
- Purchase index 348.2 vs 338.9 prior
- Refinancing index 4,484.2 vs 4,706.3 prior
- 30-year mortgage rate 2.92% vs 2.88% prior
The drop in the overall market index comes from a larger decline in refinancing activity, meanwhile purchases surged higher once again as the housing market continues to keep more robust to start the new year.
The jump in the purchase index pushes it to the highest since November 2008.
