May 22, 2024 11:06 GMT
MBA Mortgage Applications Boosted By Refis
US DATA
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- MBA composite mortgage applications increased a seasonally adjusted 1.9% in the week to May 17.
- For the second week running, strong increases in refis (+7.4% after +4.7%) offset weakness in purchases (-1.2% after -1.7%).
- Refis still remain at just 31% of 2019 average levels vs 54% for purchases.
- The 30Y conforming mortgage rate fell 7bps to 7.01%, down from a recent peak of 7.29% from late April.
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