US MBA mortgage applications w.e. 6 December +5.4% vs +2.8% prior

• Prior +2.8%
• Market index 225.5 vs 213.9 prior
• Purchase index 154.9 vs 161.5 prior
• Refinance index 634.0 vs 498.5 prior
• 30-year mortgage rate 6.67% vs 6.69% prior

There’s a bit of a caveat to the latest jump in mortgage applications in the past week. Purchase activity declined but that was more than offset by a huge surge in refinancing activity, which has been rather weak as of late. So, it might just be a one-off despite rates coming off the boil in the past month or so. Here’s a look at the refinancing activity jump:

This article was written by Justin Low at www.forexlive.com.