Latest data from the Mortgage Bankers Association for the week ending 29 October 2021
- Prior +0.3%
- Market index 623.8 vs 645.1 prior
- Purchase index 271.1 vs 275.6 prior
- Refinancing index 2,645.0 vs 2,763.8 prior
- 30-year mortgage rate 3.24% vs 3.30% prior
The drop in mortgage applications in the past week comes as both purchases and refinancing activity fall, with the latter in particular seeing a rather steep drop to its lowest level since January 2020. Overall, this still points to some mixed tones in the housing market this year as prices stay elevated but demand isn't exactly falling off drastically.