Latest data from the Mortgage Bankers Association for the week ending 5 July 2019
- Prior -0.1%
- Purchase index 275.6 vs 269.3 prior
- Market index 505.8 vs 518.1 prior
- Refinancing index 1,799.7 vs 1,925.6 prior
- 30-year mortgage rate 4.04% vs 4.07% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity slumped again on the week, led by lower refinancing activity for the most part. This comes despite a bit of a drop in the long-term mortgage rate, which continues to provide some reprieve for home buyers at least.
Much like last week's data, it still feeds into some uncertainty surrounding the US housing market in general as of late.