• Prior +1.9%
• Market index 190.3 vs 201.9 prior
• Purchase index 138.4 vs 140.0 prior
• Refinance index 463.8 vs 536.9 prior
• 30-year mortgage rate 7.05% vs 7.01% prior

The main cause for the drop in mortgage applications in the past week is a big decline in refinancing activity. It comes after a bit of a bounce in recent weeks. But if anything else, it reaffirms that the housing market is still soft-ish.

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