Latest data from the Mortgage Bankers Association for the week ending 11 December 2020
Prior -1.2%
- Market index 857.3 vs 848.3 prior
- Purchase index 331.6 vs 325.7 prior
- Refinancing index 4,014.5 vs 3,959.2 prior
- 30-year mortgage rate 2.85% vs 2.90% prior
The jump in mortgage activity in the past week comes from a rebound in purchases after the drop in the previous week, with refinancing activity also seen picking up amid the fall in the long-term mortgage rate to the lowest in the survey's history.
Further Development
Analyzing the current trading chart of Gold, I found that the buyers are in control and that we got pullback into the rising trendline today.
Based on the hourly time-frame I found the bullflag in creation, which is another sign for the upside continuation.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got VIX and Ethanol today and on the bottom CAD and Natural Gas.
Key Levels:
Resistance: $1,873
Support level: $1,853
