Latest data from the Mortgage Bankers Association for the week ending 31 May 2019
- Prior -3.3%
- Purchase index 253.1 vs 259.4 prior
- Market index 417.8 vs 411.5 prior
- Refinancing index 1,335.6 vs 1,255.4 prior
- 30-year mortgage rate 4.23% vs 4.33% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity improved in the final week of May but the good news for home buyers is that the long-term rate has come off by a further 10 bps to 4.23%.
That said, housing market sentiment remains on the softer side in the US so there's still some room for concern in the outlook.
