US MBA mortgage applications w.e. 3 May +2.6% vs -2.3% prior

• Prior -2.3%
• Market index 197.1 vs 192.1 prior
• Purchase index 144.2 vs 141.7 prior
• Refinance index 477.5 vs 456.9 prior
• 30-year mortgage rate 7.18% vs 7.29% prior

That’s a slight bounce back in US mortgage applications, with both purchases and refinancing activity picking up on the week. It comes as the average rate of the most popular US home loan eases off its highest levels since November in the week before.

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