October 16, 2024 at 12:00PM
Prior -5.1%
Market index 230.2 vs 277.5 prior
Purchase index 138.4 vs 149.2 prior
Refinance index 734.6 vs 997.3 prior
30-year mortgage rate 6.52% vs 6.36% prior
Amid a jump in rates, mortgage applications dropped hard in the past week with both purchase and refinancing activity slumping hard. The latter in particular fell by 26% to its softest number since the first week of August. A sign of a false dawn for the US housing market in after the brief recovery in recent weeks?
This article was written by Justin Low at www.forexlive.com.
US MBA mortgage applications w.e. 11 October -17.0% vs -5.1% prior