• Prior +3.0%
• Market index 206.5 vs 216.1 prior
• Purchase index 162.4 vs 170.3 prior
• Refinance index 421.3 vs 439.2 prior
• 30-year mortgage rate 6.85% vs 6.75% prior

Mortgage activity sees a sharp fall in the past week ahead of the long weekend in the US, with both purchases and refinancing also falling significantly. That comes amid another acceleration in the average rate of the most popular US home loan by 10 bps to 6.85%.

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