Latest data from the Mortgage Bankers Association for the week ending 12 February 2021
- Market index 892.6 vs 904.4 prior
- Purchase index 299.5 vs 318.8 prior
- Refinancing index 4,337.0 vs 4,549.2 prior
- 30-year mortgage rate 2.98% vs 2.96%
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The key drop comes from yet another dip in purchasing activity with refinancing activity also seen declining once again in the past week. That points to some moderation in housing market activity though it will be interesting to see how that develops as rates are likely to climb further in the coming weeks.