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.
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.
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