US MBA mortgage applications w.e. 9 September -1.2% vs -0.8% prior

• Prior -0.8%
• Market index 255.0 vs 258.1 prior
• Purchase index 198.1 vs 197.8 prior
• Refinancing index 532.9 vs 556.4 prior
• 30-year mortgage rate 6.01% vs 5.94% prior

The standout detail is that the average interest rate for the most popular US home loan rose above 6% for the first time since 2008, more than doubling the level it was a year ago. Mortgage activity continued to decline, largely as a result from a fall in refinancing this week as the housing sector continues to feel the impact of higher rates in general. And we can still look forward to another 75 bps rate hike by the Fed next week. Fun.

/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