The Purchase Index from the US Mortgage Bankers Association increased just 1.1% in the latest week. The organization did not provide a specific level but based on recent gains, that puts the Purchase Index at 267.0.
Mortgage applications are off the March low but based on data we are receiving from the US MBA, housing appears to be dragging along the bottom.
But reports from other groups, including new home sales, housing starts, pending home sales, and existing home sales suggest a little more in the way of housing activity.
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