US MBA mortgage applications w.e. 30 December -10.3% vs +0.9% prior

• Prior +0.9%
• Market index 184.5 vs 212.5 prior
• Purchase index 160.2 vs 182.5 prior
• Refinance index 310.9 vs 371.4 prior
• 30-year mortgage rate 6.58% vs 6.34%

That's a sharp drop in mortgage activity in the past week in comparison to the week prior, but the subdued activity also likely owes to a quieter period amid the Christmas and New Year's break. That said, it doesn't take away from the fact that overall conditions are torrid with both purchases and refinancing taking a major hit in the past year. For some context, on the year itself, the market index tumbled by over 67%.

/US Dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term