Latest data from the Mortgage Bankers Association for the week ending 7 August 2020
- Prior -5.1%
- Market index 852.8 vs 798.8 prior
- Purchase index 306.6 vs 300.7 prior
- Refinancing index 4,025.0 vs 3,688.1 prior
- 30-year mortgage rate 3.06% vs 3.14%
The long-term mortgage rate falls to a new record low in the latest survey, and that is fueling the sharp jump in refinancing activity - highest levels since April. Adding to the bright side, purchases are also seen increasing in the past week.
