US MBA mortgage applications w.e. 14 February -6.6% vs +2.3% prior
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- Prior +2.3%
- Market index 214.9 vs 230.0 prior
- Purchase index 144.0 vs 153.1 prior
- Refinance index 593.6 vs 640.6 prior
- 30-year mortgage rate 6.93% vs 6.95% prior
Mortgage applications slumped back in the past week following a decent start to the new year. Both purchase and refinancing activities suffered declines, leading to the drop as the average rate of the most popular US home loan keeps just under 7%.
This article was written by Justin Low at www.forexlive.com.
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