• Prior -4.6%
• Market index 197.4 vs 205.0 prior
• Purchase index 154.4 vs 158.3 prior
• Refinance index 412.5 vs 443.0 prior
• 30-year mortgage rate 6.91% vs 6.69% prior

Once again, mortgage activity declined as there is a significant jump in the interest rate of the most popular US home loan. The 30-year rate increased to 6.91% in the past week, marking its highest level since the first week of November last year. That led to a further decline in both purchase and refinancing activity. Pain.

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

It’s all just semantics at this point as the debt ceiling issue is now kicked down the road once again, as it has always been over the past many decades. As mentioned earlier in the week, this isn’t going to be a concern for markets anymore as the focus switches back to central banks, inflation, and the economy.

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