Mortgage Bankers Association (MBA)

Combined with upward revisions for November & December, market proves even stronger than many thought.

After rising for 3 weeks in a row, the MBA's Market Composite Index fell 9% on a seasonally adjusted basis.

The median payment fell to $1,920 in December from $1,977 in November. 

MBA economist says homebuying activity remains 'tepid.'

Forbearance rate has been flat for 3 months, a sign 'we may have reached a floor on further improvements.'

New framework takes effect on May 1, but MBA asks agency to be 'flexible' with that date.