MNI DATA IMPACT:US MBA Mkt Composite +1.5%,Refis +6% May 31 Wk

     WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a

further increase in mortgage activity in the May 31 week, with activity up 1.5%

on a large decline in mortgage rates.

     Here are some of the key features of the report:

     - The Refinance Index rose by 6%, while the Purchase Index fell by 2% in

the current week. 

     - The 30-year average rate for a 30-year fixed mortgage fell further to

4.23% in the current week from 4.33% in the previous week, hitting its lowest

point since January 2018. 

     - The unadjusted purchasing index was up 0.5% from a year earlier. 

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]