Technical Analysis

US MBA mortgage applications w.e. 30 December -10.3% vs +0.9% prior

  • Prior +0.9%
  • Market index 184.5 vs 212.5 prior
  • Purchase index 160.2 vs 182.5 prior
  • Refinance index 310.9 vs 371.4 prior
  • 30-year mortgage rate 6.58% vs 6.34%

That’s a sharp drop in mortgage activity in the past week in comparison to the week prior, but the subdued activity also likely owes to a quieter period amid the Christmas and New Year’s break. That said, it doesn’t take away from the fact that overall conditions are torrid with both purchases and refinancing taking a major hit in the past year. For some context, on the year itself, the market index tumbled by over 67%.

/US Dollar

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