US MBA mortgage applications w.e. 10 September +0.3% vs -1.9% prior

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Latest data from the Mortgage Bankers Association for the week ending 10 September 2021

• Market index 707.9 vs 705.6 prior
• Purchase index 277.9 vs 258.4 prior
• Refinancing index 3,185.6 vs 3,292.1 prior
• 30-year mortgage rate 3.03% vs 3.03% prior

The jump in mortgage applications in the past week owes much to a surge in purchasing activity as refinancing activity declined heavily. There’s still some mixed sentiment on the housing market that high prices are weighing on demand from new home buyers so we’ll have to see how all of this plays out in the weeks/months ahead.