US MBA mortgage applications w.e. 13 September +14.2% vs +1.4% prior

• Prior +1.4%
• Market index 266.8 vs 233.7 prior
• Purchase index 146.1 vs 138.6 prior
• Refinance index 941.4 vs 757.8 prior
• 30-year mortgage rate 6.15% vs 6.29% prior

A further drop in the average rate of the most popular US home loan sparked a big jump in refinancing activity in the past week. And that led to the surge in mortgage applications, also helped by a slight bump in purchases activity. Recovery time?

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