US MBA mortgage applications w.e. 10 April +7.3% vs -17.9% prior

Latest data from the Mortgage Bankers Association for the week ending 10 April 2020
–  -17.9%
– Purchase index 182.6 vs 185.9 prior
– Market index 770.7 vs 718.2 prior
The rise in the headline largely stems from refinancing activity as the long-term rates keep at the lows. The more concerning part though is that purchases is seen falling