US MBA mortgage applications w.e. 11 August -0.8% vs -3.1% prior

<ul><li>Prior -3.1%</li><li>Market index 193.0 vs 194.5 prior</li><li>Purchase index 149.5 vs 149.9 prior</li><li>Refinance index 408.4 vs 416.1 prior</li><li>30-year mortgage rate 7.16% vs 7.09% prior</li></ul><p>Mortgage applications continue to fall, this time largely due to a drop in refinancing activity. It's not a good look for mortgage activity since the Fed began tightening monetary policy and even as we are near a pivot point, higher yields is not helping the overall outlook of the housing market for now.</p>

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