• Prior -5.4%
• Market index 300.0 vs 305.3 prior
• Purchase index 224.3 vs 232.6 prior
• Refinancing index 685.3 vs 670.3 prior
• 30-year mortgage rate 5.74% vs 5.74% prior

Mortgage activity continues to decline with purchases dropping once again, more than offsetting a slight increase in refinancing activity in the past week. As the Fed looks set to raise rates further, the squeeze is on for the US housing market.

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