- Prior +5.3%
- Market index 209.2 vs 229.5 prior
- Purchase index 161.6 vs 179.6 prior
- Refinance index 449.8 vs 477.5 prior
- 30-year mortgage rate 6.43% vs 6.30% prior
That’s a sharp retreat in mortgage activity in the past week as the interest rate of the most popular US home loan jumps higher, following the move higher in rates as well. The continued climb so far this week won’t be good news for homebuyers and will add to pressure on the housing market again, after a bit of a reprieve in the past two months or so.
This article was written by Justin Low at www.forexlive.com.