Latest data from the Mortgage Bankers Association for the week ending 4 December 2020
Prior -0.6%
- Market index 848.3 vs 858.2 prior
- Purchase index 325.7 vs 342.9 prior
- Refinancing index 3,959.2 vs 3,891.1 prior
- 30-year mortgage rate 2.90% vs 2.92% prior
The drop last week largely stems from a decline in purchase activity, despite the long-term mortgage rate falling by another 2 bps to a record survey low.
The drop in purchases is a bit of a setback after a slight bounce in recent weeks but overall levels still suggest that the housing market is holding up well in spite of the virus crisis.
Further Development
Analyzing the current trading chart of EUR/USD, I found that there is potential for the another upside movement due to exhaustion from sellers.
Watch for buying opportunities with the targets at 1,2150 and 1,2200
There is rejection of the support trend line and bottom of the Bollinger band.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Lumber and Ethanol today and on the bottom Silver and Platinum.
Key Levels:
Resistance: 1,2145
Support level: 1,2100
