US MBA mortgage functions w.e. Three January -Three.7% vs -12.6% prior

• Prior -12.6%
• Market index 168.four vs 174.9 prior
• Buy index 127.7 vs 136.7 prior
• Refinance index 401.1 vs 395.1 prior
• 30-year mortgage charge 6.99% vs 6.97% prior

After an enormous plunge within the week earlier than, mortgage functions are falling additional once more to begin the brand new yr with buy exercise weighing this time. That’s partially offset by slight rise in refinancing exercise, after the sharp plunge within the week prior right here. With charges persevering with to carry increased, the outlook is not a brilliant one to begin the yr for the mortgage market.

This text was written by Justin Low at www.ubaidahsan.com.



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