US MBA mortgage applications w.e. 7 July +0.9% vs -4.4% prior

<ul><li>Prior -4.4%</li><li>Market index 208.4 vs 206.5 prior</li><li>Purchase index 165.3 vs 162.4 prior</li><li>Refinance index 416.0 vs 421.3 prior</li><li>30-year mortgage rate 7.07% vs 6.85% prior</li></ul><p>Mortgage applications increased slightly in the past week as the jump in purchases activity helped to offset a decline in refinancing activity. This comes despite a massive 22 bps jump in the average rate of the most popular US home loan to above 7% again – its highest since November last year.</p>

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