Technical Analysis

US MBA mortgage applications w.e. 16 December +0.9% vs +3.2% prior

  • Prior +3.2%
  • Market index 212.5 vs 210.7 prior
  • Purchase index 182.5 vs 182.6 prior
  • Refinance index 371.4 vs 350.5 prior
  • 30-year mortgage rate 6.34% vs 6.42% prior

Mortgage activity improved slightly, owing to refinancing activity as purchases were flat. There has been some light improvement in sentiment over the past few weeks as rates come down a little but housing market conditions are still poor if you put into context the decline in mortgages since the turn of the year.

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