US MBA mortgage applications w.e. 4 August -3.1% vs -3.0% prior

<ul><li>Prior -3.0%</li><li>Market index 194.5 vs 200.7 prior</li><li>Purchase index 149.9 vs 154.1 prior</li><li>Refinance index 416.1 vs 433.6 prior</li><li>30-year mortgage rate 7.09% vs 6.93% prior</li></ul><p>A further slump in both purchases and refinancing activities led to another drop in mortgage applications in the past week. Housing market conditions are not faring well as rates continue to hold higher amid tighter financial conditions. Here's a look at how purchases activity have been tracking:</p>

This article was written by Justin Low at www.forexlive.com.