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globalreutersMay 29, 20241 Mins read
US MBA mortgage applications w.e. 24 May -5.7% vs +1.9% prior
globalreutersMay 29, 20241 Mins read - Prior +1.9%
- Market index 190.3 vs 201.9 prior
- Purchase index 138.4 vs 140.0 prior
- Refinance index 463.8 vs 536.9 prior
- 30-year mortgage rate 7.05% vs 7.01% prior
The main cause for the drop in mortgage applications in the past week is a big decline in refinancing activity. It comes after a bit of a bounce in recent weeks. But if anything else, it reaffirms that the housing market is still soft-ish.
This article was written by Justin Low at www.forexlive.com.
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