US MBA mortgage applications w.e. 29 December -10.7% vs -1.5% prior

<ul><li>Prior -1.5%</li><li>Market index 173.5 vs 191.6 prior</li><li>Purchase index 140.7 vs 148.7 prior</li><li>Refinance index 358.2 vs 437.6 prior</li><li>30-year mortgage rate 6.76% vs 6.83% prior</li></ul><p>That's a big plunge in mortgage applications in the past week, owing much to a steep decline in refinancing activity. That being said, the caveat here is that this is all part of the Christmas week so it is arguably more of an outlier more than anything else.</p>

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