US MBA mortgage applications w.e. 28 July -3.0% vs -1.8% prior

<ul><li>Prior -1.8%</li><li>Market index 200.7 vs 206.9 prior</li><li>Purchase index 154.1 vs 159.2 prior</li><li>Refinance index 433.6 vs 444.5 prior</li><li>30-year mortgage rate 6.93% vs 6.87% prior</li></ul><p>US mortgage applications slumped further in the past week as both purchases and refinancing activity declined strongly. Higher rates are continuing to pressure the housing market and this will likely drag further until there are signs of a stronger policy pivot by the Fed.</p>

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