US MBA mortgage applications w.e. 9 August 16.8% vs 6.9% prior

August 14, 2024
-FCHFX

August 14, 2024 at 12:00PM

Prior +6.9%

Market index 251.3 vs 215.1 prior

Purchase index 137.7 vs 133.9 prior

Refinance index 889.3 vs 661.4 prior

30-year mortgage rate 6.54% vs 6.55% prior

The big jump in the past week comes as we see a spike in refinancing activity in particular. That comes as the average rate of the most popular US home loan came falling in the last two weeks, amid the plunge in yields. Here’s a look at how the jump in refinancing activity looks from the graph:

This article was written by Justin Low at www.forexlive.com.

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