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US DATA: Slide In Mortgage Applications Pauses Despite Higher Rates

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • MBA composite mortgage applications increased 1.7% (sa) last week after 0.5% the week prior, showing some marginal resilience after previously large declines in refi-applications in particular following the bounce in mortgage rates.
  • New purchase applications increased 2.0% after 1.9% whilst refis increased 1.8% after -1.5%. They do however remain -9% and -54% below early Oct/late Sep recent highs respectively.
  • The 30Y conforming mortgage rate increased another 4bps to 6.90% in the latest week, up 76bps from the September lows around 6.14%. 
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  • MBA composite mortgage applications increased 1.7% (sa) last week after 0.5% the week prior, showing some marginal resilience after previously large declines in refi-applications in particular following the bounce in mortgage rates.
  • New purchase applications increased 2.0% after 1.9% whilst refis increased 1.8% after -1.5%. They do however remain -9% and -54% below early Oct/late Sep recent highs respectively.
  • The 30Y conforming mortgage rate increased another 4bps to 6.90% in the latest week, up 76bps from the September lows around 6.14%.