US MBA mortgage applications w.e. 4 November -0.1% vs -0.5% prior | Forexlive

• Prior -0.5%
• Market index 199.9 vs 200.1 prior
• Purchase index 162.6 vs 160.5 prior
• Refinance index 373.1 vs 386.7 prior
• 30-year mortgage rate 7.14% vs 7.06% prior

Another week, another drop in mortgage activity as overall housing market conditions continue to take a hit as rates stay elevated amid a more hawkish Fed. As a reminder, the conditions reflected in the data here are the worst since 1997 and that’s quite a hit to the market – especially as the Fed is sticking to its current stance.