• Prior +7.1%
• Market index 198.2 vs 201.5 prior
• Purchase index 146.0 vs 147.7 prior
• Refinance index 468.4 vs 480.3 prior
• 30-year mortgage rate 6.97% vs 6.84% prior

The average rate of the most popular US home loan surges higher by 13 bps in the past week, nearing the 7% mark again. That put a bit of a drag on mortgage applications, with both purchases and refinancing activity slipping lower.

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