US MBA mortgage applications w.e. 6 May +2.0% vs +2.5% prior

• Prior +2.5%

• Market index 358.9 vs 351.8 prior
• Purchase index 255.4 vs 244.4 prior
• Refinancing index 913.6 vs 932.3 prior
• 30-year mortgage rate 5.53% vs 5.36% prior

The average 30-year home loan rate in the US rose to its highest level since 2009 last week to 5.53% but that didn't quite stop demand for mortgages, as applications ticked higher for a second week running. Despite the improvement in purchases on the week, it still doesn't take away from the fact that the level is 8% lower than it was in the same week a year ago.

The housing market continues to offer mixed signals with house prices still flashing double-digit annual price growth despite mortgage activity falling rather considerably since last year:

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