<ul><li>Prior -2.0%</li><li>Market index 204.6 vs 214.3 prior</li><li>Purchase index 164.2 vs 170.5 prior</li><li>Refinancing index 394.6 vs 423.2 prior</li><li>30-year mortgage rate 6.94% vs 6.81% prior</li></ul><p style=““ class=“text-align-justify“>The average interest rate for the most popular US home loan rose further to 6.94% in the past week – its highest since 2002 – as conditions continue to deteriorate in the mortgage market. The main index is seen dropping over 4% again in the past week, falling to its lowest since 1997. Boom. 💥</p>

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