US MBA mortgage applications w.e. 9 May +1.1% vs +11.0% prior
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- Prior +11.0%
- Market index 251.2 vs 248.4 prior
- Purchase index 166.5 vs 162.8 prior
- Refinance index 718.1 vs 721.0 prior
- 30-year mortgage rate 6.86% vs 6.84% prior
Mortgage applications saw a minor increase in the past week, led by purchase activity as a drop in refinancing activity slightly offset the overall figure. With higher rates though, we’ll see if there will be more of a crack between the lines in this space in the weeks ahead.
This article was written by Justin Low at www.forexlive.com.
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