<ul><li>Prior +3.0%</li><li>Market index 227.3 vs 221.0 prior</li><li>Purchase index 172.7 vs 169.3 prior</li><li>Refinance index 504.4 vs 481.3 prior</li><li>30-year mortgage rate 6.45% vs 6.48% prior</li></ul><p style=““ class=“text-align-justify“>As rates fall lower, the refinance index hits a 6-month high as overall activity continues to pick up in the mortgage market. A third straight week of a drop in borrowing costs is certainly helping with mortgage applications rising for a fourth consecutive week. That said, overall levels of activity are still rather depressed and that is evident by the chart below (which just shows a slight bounce in refinance activity after having touched the lowest since 2000 in the final week of last year):</p><p style=““ class=“text-align-justify“>/<a target=“_blank“ href=“https://www.forexlive.com/terms/u/us-dollar/“ class=“terms__main-term“ id=“fddda8f4-d5f8-4ee4-8e34-3760ed062f3c“>US Dollar</a></p>

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