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US DATA: Purchase Mortgage Applications Highest Since January

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • MBA composite mortgage applications increased 2.8% (sa) last week after a solid 6.3% in the week prior.
  • New purchase applications again boosted the composite (5.6% after 12.4%) as refis lagged (-0.6% after -2.6%).
  • New purchase applications are now at their highest since January although still only a little over 60% of 2019 levels.
  • Refis have stabilized after heavy declines, more than 50% below late September levels that captured recent lows for the 30Y mortgage rate of ~6.14%.
  • The 30Y rate pulled back 17bp last week but is still at 6.69%. 
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  • MBA composite mortgage applications increased 2.8% (sa) last week after a solid 6.3% in the week prior.
  • New purchase applications again boosted the composite (5.6% after 12.4%) as refis lagged (-0.6% after -2.6%).
  • New purchase applications are now at their highest since January although still only a little over 60% of 2019 levels.
  • Refis have stabilized after heavy declines, more than 50% below late September levels that captured recent lows for the 30Y mortgage rate of ~6.14%.
  • The 30Y rate pulled back 17bp last week but is still at 6.69%.