Free Trial

MNI DATA IMPACT:US MBA Mkt Composite +21.7%,Refi +37% Aug 9 Wk

     WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a
second straight surge in mortgage activity in the August 9 week, with activity
up 21.7% as mortgage rates decreased further.
     Here are some of the key features of the report:
     - The Refinance Index rose by 37% to the highest level since 2016, while
the purchases index increased by 2%. It was still up 12% year/year before
seasonal adjustment. 
     - The 30-year average rate for a 30-year fixed mortgage fell to 3.93% in
the current week from 4.01% in the previous week, hitting its lowest point since
November 2016 due to continued concerns about an escalated trade war and global
economic concerns, the MBA said. 
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com
[TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.