US MBA mortgage applications w.e. 12 July +3.9% vs -0.2% prior
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- Prior -0.2%
- Market index 214.1 vs 206.1 prior
- Purchase index 140.4 vs 144.3 prior
- Refinance index 613.0 vs 532.3 prior
- 30-year mortgage rate 6.87% vs 7.00% prior
The jump in mortgage applications in the past week comes as the average rate of the most popular US home loan drops by some 13 bps back under 7%. The rebound owes to a surge in refinancing activity, which offset a decline in purchases on the week.
This article was written by Justin Low at www.forexlive.com.
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