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US DATA: Mortgage Applications Nudge Higher Ahead Of Thanksgiving

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • MBA composite mortgage applications increased 6.3% last week (sa) after a 1.7% increase, although it’s a small improvement relative to the 35% slide through September to early Nov in the adjustment to higher interest rates.
  • New purchase applications saw a particularly strong 12.4% increase after 2.0% for the strongest week since Jan 2023 but there’s possibly some pre-Thanksgiving seasonal adjustment distortion at play.
  • Refis meanwhile fell 2.6% after a 1.8% increase, more than 50% below late September levels.
  • The 30Y conforming mortgage rate dipped 4bps in the latest week to 6.86%, still some 72bps higher than those mid-to-late September recent lows. 
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  • MBA composite mortgage applications increased 6.3% last week (sa) after a 1.7% increase, although it’s a small improvement relative to the 35% slide through September to early Nov in the adjustment to higher interest rates.
  • New purchase applications saw a particularly strong 12.4% increase after 2.0% for the strongest week since Jan 2023 but there’s possibly some pre-Thanksgiving seasonal adjustment distortion at play.
  • Refis meanwhile fell 2.6% after a 1.8% increase, more than 50% below late September levels.
  • The 30Y conforming mortgage rate dipped 4bps in the latest week to 6.86%, still some 72bps higher than those mid-to-late September recent lows.