US MBA mortgage applications w.e. 26 January -7.2% vs +3.7% prior

<ul><li>Prior +3.7%</li><li>Market index 202.5 vs 218.2 prior</li><li>Purchase index 154.5 vs 174.3 prior</li><li>Refinance index 445.6 vs 438.4 prior</li><li>30-year mortgage rate 6.78% vs 6.78% prior</li></ul><p>After a notable rebound to start the year, mortgage applications fell in the past week. That owes to a drop in purchase activity as refinancing activity actually increased on the week. The average interest rate of the most popular US home loan is seen steady before we get to the Fed later today.</p>

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