Latest data from the Mortgage Bankers Association for the week ending 19 June 2020
- Prior +8.0%
- Market index 773.1 vs 846.9 prior
- Purchase index 312.7 vs 322.5 prior
- Refinancing index 3,434.66 vs 3,891.5 prior
- 30-year mortgage rate 3.30% vs 3.30%
The drop in the past week largely stems from a fall in refinancing activity but purchases are also seen declining a little after the push to a fresh 11-year high in the week before.
Despite the softer headline reading, the overall situation still points to some modest developments in the US housing market in recent weeks after the initial hit suffered from the virus outreak fallout and lockdown measures.
