US MBA mortgage applications w.e. 2 August 6.9% vs -3.9% prior

August 7, 2024
-FCHFX

August 07, 2024 at 12:00PM

Market index 215.1 vs 201.2 prior

Purchase index 133.9 vs 132.8 prior

Refinance index 661.4 vs 570.7 prior

30-year mortgage rate 6.55% vs 6.82% prior

The average rate of the most popular US home loan took a plunge last week after the drop in yields on Friday, alongside signals from the Fed to cut rates. The massive plunge is enough to get mortgage applications back up with both purchasing and refinancing activity also climbing.

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

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