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US DATA: Mortgage Applications Track Sideways

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • MBA composite mortgage applications increased 2.2% (sa) last week after -2.0% the week prior, with refis (12%) offsetting some recent weakness for new purchases (-3.5%).  
  • Composite applications have broadly moved sideways since jumping 33% early in January, although are still only 48% of average 2019 levels (new purchases 61%, refis 34%).
  • The 30Y conforming rate dipped 5bps to 6.97%, down from the recent high of 7.09% from the week to Jan 10 but holding most of the push higher from recent lows of 6.13% in September. 
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  • MBA composite mortgage applications increased 2.2% (sa) last week after -2.0% the week prior, with refis (12%) offsetting some recent weakness for new purchases (-3.5%).  
  • Composite applications have broadly moved sideways since jumping 33% early in January, although are still only 48% of average 2019 levels (new purchases 61%, refis 34%).
  • The 30Y conforming rate dipped 5bps to 6.97%, down from the recent high of 7.09% from the week to Jan 10 but holding most of the push higher from recent lows of 6.13% in September. 
image