US MBA mortgage applications w.e. 20 March -29.4% vs -8.4% prior

Latest data from the Mortgage Bankers Association for the week ending 20 March 2020
– Prior -8.4%
– Purchase index 237.4 vs 278.1 prior
– Market index 758.4 vs 1,073.6 prior
That is the biggest percentage drop in the headline reading since 2009, as we see refinancing activity suffer a sharp drop but also for purchases as well. This comes