Latest data from the Mortgage Bankers Association for the week ending 8 March 2019
- Prior -2.5%
- Purchase index 250.8 vs 240.5 prior
- Market index 384.0 vs 375.3 prior
- Refinancing index 1,108.3 vs 1,110.9 prior
- 30-year mortgage rate 4.64% vs 4.67% prior
Headline measures the change in number of applications for mortgages backed by the MBA during the week. Mortgage activity improved on the week but the important takeaway for me remains the long-term mortgage rate which is still relatively elevated. That will continue to put pressure on home buyers and weigh on the housing market.
