• Prior +3.3%
• Market index 196.7 vs 202.1 prior
• Purchase index 144.2 vs 145.6 prior
• Refinance index 472.7 vs 500.7 prior
• 30-year mortgage rate 7.24% vs 7.13% prior

Mortgage applications fell back in the past week, with refinancing activity leading most of the drop. It comes as the average interest rate of the most popular US home loan climbs by 11 bps to 7.24% – its highest since November last year.

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