US MBA mortgage applications w.e. 12 May -5.7% vs +6.3% prior | Forexlive

  • Prior +6.3%
  • Market index 214.9 vs 227.8 prior
  • Purchase index 165.4 vs 173.7 prior
  • Refinance index 468.2 vs 507.1 prior
  • 30-year mortgage rate 6.57% vs 6.48% prior

A rise in rates in the past week led to a notable decline in mortgage activity with both purchases and refinancing also falling. This just continues to rebuff the narrative that housing conditions remain rather challenging and troubled, with mortgages in particular suffering amid tighter financial conditions brought about by the Fed.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *