قالب وردپرس درنا توس
Home / Business / US MBA Mortgage Applications w.e. June 7 + 26.8% vs. + 1.5% ago

US MBA Mortgage Applications w.e. June 7 + 26.8% vs. + 1.5% ago



Latest Mortgage Bankers Association data for the week ending June 7, 2019

  • Previous + 1.5%
  • Purchase index 278.4 vs.. 253.1 Previous
  • Market Index 529.8 vs.. 417.8 Previous
  • Refinancing Index 1,956.5. 1,335.6 previous
  • 30-year mortgage rate 4.12% versus 4.23% previous

The headline measures the change in the number of mortgage applications supported by the MBA during the week. This is a notable leap in time as mortgage applications have risen to their highest levels since September 201

6. Looking at the details, this is mainly due to an increase in refinancing activity with a continued decline in the long-term mortgage rate.

Refinancing activity has been expanded to 1.956,5, the highest level since November 2016, accounting for 49.8% of mortgage applications last week. MBA notes that the increase is also supported by the fact that some homeowner borrowing costs have fallen to their lowest levels in nearly two years.

With markets starting to anticipate interest rate cuts by the Fed, this will undoubtedly keep rates on the downside and help give the housing market more confidence after a recent slump since last year.
Forex Live


Source link