Latest data from the Mortgage Bankers Association for the week ending 4 June 2021
- Prior -4.0%
- Market index 645.4 vs 665.9 prior
- Purchase index 262.1 vs 261.4 prior
- Refinancing index 2,869.2 vs 3,022.0 prior
- 30-year mortgage rate 3.15% vs 3.17% prior
The drop in the past week stems from a decline in refinancing activity mostly as purchases held up. Still, the trend isn't encouraging as it continues to allude to softer conditions with respect to mortgages in recent months.