Latest data from the Mortgage Bankers Association for the week ending 25 September 2020
- Prior +6.8%
- Market index 769.6 vs 808.5 prior
- Purchase index 320.9 vs 327.0 prior
- Refinancing index 3,346.9 vs 3,579.8 prior
- 30-year mortgage rate 3.05% vs 3.10% prior
Despite the long-term rate falling to the lowest in the survey's history, mortgage activity is seen moderating after a robust lift in the week prior. Both refinancing and purchases fell last week but the latter is still holding at relatively high levels, so it is still reaffirming the narrative that the housing market is keeping more solid as of late.