US MBA mortgage applications w.e. 28 June -2.6% vs +0.8% prior

• Prior +0.8%
• Market index 206.5 vs 212.0 prior
• Purchase index 142.9 vs 147.8 prior
• Refinance index 544.1 vs 552.4 prior
• 30-year mortgage rate 7.03% vs 6.93% prior

Mortgage applications fell in the past week with both purchases and refinancing activity also declining. It comes as the average rate of the most popular US home loan rises back above the 7% mark. Overall, it still points to rather subdued conditions in the housing market.

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