US MBA mortgage applications w.e. 19 March -2.5% vs -2.2% prior

Latest data from the Mortgage Bankers Association for the week ending 19 March 2021

  • Prior -2.2%
  • Market index 747.0 vs 766.2 prior
  • Purchase index 301.9 vs 294.3 prior
  • Refinancing index 3,325.3 vs 3,504.9 prior
  • 30-year mortgage rate 3.36% vs 3.28% prior

The drop in mortgage applications in the past week owes much to a decline in refinancing activity as purchases still show a modest bounce despite the long-term rate continuing to climb higher in recent weeks. Source

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