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US MBA mortgage applications for the week ending 9 August jumped 21.7% up from a rise of 5.3% the prior week. With mortgage rates back to a three year low refinancing activity surged to a three year high fueling the activity.

mortgage applicaition

From the U.S. Mortgage Bankers Association for the week ending 9 August 2019

  • Mortgage applications +21.7% vs +5.3% prior
  • Purchase index 252.6 vs 247.9 prior
  • Market index 620.4 vs 509.8 prior
  • Refinancing index 2,742.9 vs 2,003.0 prior
  • 30-year mortgage rate 3.93% vs 4.01% prior

Applications for home-purchase loans were up less than 5 percentage points indicating sentiment is still wary.

From The TradersCommunity News Desk

 

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