U.S. MBA Mortgage Market Index Rose in Latest Week
U.S. MBA mortgage market index rose 0.1, in addition to a 1.4% drop in the purchase index and a 1.7% rebound in the refinancing index for the week ended December 30. The average 30-year fixed mortgage rate sank 6 basis points to 4.39% amid year-end portfolio rebalancing, which seemed to give refinancing’s a lift. This contrasted the 12.1% plunge in the headline market index for the week ended December 23, which followed the FOMC rate hike the week prior and was released with a lag due to the holidays.
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