Up 1% after being down 4% last week:
United States : MBA Mortgage Applications
Mortgage rates are moving higher and squeezing out what had been gains in purchase applications. Purchase applications did rise in the May 22 week but only 1.0 percent. Year-on-year, applications are still up a healthy 14.0 percent. Demand for refinancing continues to shrink, down 4.0 percent in the latest week. The average 30-year fixed mortgage for conforming loan balances ($417,000 or less) rose 3 basis points to 4.07 percent.
Purchase Mortgage level: