Technical Analysis

US MBA mortgage applications w.e. 9 December +3.2% vs -1.9% prior

  • Prior -1.9%
  • Market index 210.7 vs 204.2 prior
  • Purchase index 182.6 vs 175.5 prior
  • Refinance index 350.5 vs 340.8 prior
  • 30-year mortgage rate 6.42% vs 6.41% prior

A bit of a pick up in mortgage activity in the past week, just before the next Fed rate hike later today. Still, housing market conditions have fallen off quite badly during the course of the year so even this isn’t indicative of much of a reprieve in the grand scheme of things.

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