• Prior -4.1%
• Market index 229.5 vs 217.9 prior
• Purchase index 179.6 vs 166.6 prior
• Refinance index 477.5 vs 477.2 prior
• 30-year mortgage rate 6.30% vs 6.40% prior

The climb down in the average interest rate for the most popular US home loan (as seen below) is continuing to benefit mortgage activity in general over the past two months or so. This time around, purchase activity is seen picking up substantially and that is helping to give a bit of a lift to the market after a rather awful last one year.

/US Dollar

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