US MBA mortgage applications w.e. 26 July -3.9% vs -2.2% prior

• Prior -2.2%
• Market index 201.2 vs 209.3 prior
• Purchase index 132.8 vs 134.8 prior
• Refinance index 570.7 vs 614.9 prior
• 30-year mortgage rate 6.82% vs 6.82% prior

The drop in the past week owes much to a decline in refinancing activity but purchases activity also fell slightly. It continues to suggest a more subdued mood in the housing market overall as mortgage applications are keeping more repressed. The market index is the lowest since the final week of May.

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