US MBA mortgage applications w.e. 14 October -4.5% vs -2.0% prior | Forexlive

• Prior -2.0%
• Market index 204.6 vs 214.3 prior
• Purchase index 164.2 vs 170.5 prior
• Refinancing index 394.6 vs 423.2 prior
• 30-year mortgage rate 6.94% vs 6.81% prior

The average interest rate for the most popular US home loan rose further to 6.94% in the past week – its highest since 2002 – as conditions continue to deteriorate in the mortgage market. The main index is seen dropping over 4% again in the past week, falling to its lowest since 1997. Boom. ?