• Prior -6.0%
• Market index 179.3 vs 178.2 prior
• Purchase index 137.5 vs 136.6 prior
• Refinance index 385.8 vs 384.6 prior
• 30-year mortgage rate 7.67% vs 7.53% prior

After a sharp drop in mortgage applications in the week before, there is a mild bounce back in activity with both purchases and refinancing ticking a touch higher. The drop in rates this week will be welcome, after another 14 bps rise in the average rate of the most popular US home loan last week.

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