The Purchase Index from the US Mortgage Bankers Association has been lagging behind much of the housing data that has been out recently. But today’s release of the weekly report shows that a 3.9% rise may finally be reflecting a long awaited pick up in mortgage applications.
The US MBA did not provide the exact level, but based on recent data, that puts the index at 277.4.
The look at housing provided by the US MBA has been volatile, but the trend is slowly to the upside.
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