August 07, 2024 at 12:00PM
Market index 215.1 vs 201.2 prior
Purchase index 133.9 vs 132.8 prior
Refinance index 661.4 vs 570.7 prior
30-year mortgage rate 6.55% vs 6.82% prior
The average rate of the most popular US home loan took a plunge last week after the drop in yields on Friday, alongside signals from the Fed to cut rates. The massive plunge is enough to get mortgage applications back up with both purchasing and refinancing activity also climbing.
This article was written by Justin Low at www.forexlive.com.
US MBA mortgage applications w.e. 2 August 6.9% vs -3.9% prior