US MBA mortgage applications w.e. 7 July +0.9% vs -4.4% prior | Forexlive

• Prior -4.4%
• Market index 208.4 vs 206.5 prior
• Purchase index 165.3 vs 162.4 prior
• Refinance index 416.0 vs 421.3 prior
• 30-year mortgage rate 7.07% vs 6.85% prior

Mortgage applications increased slightly in the past week as the jump in purchases activity helped to offset a decline in refinancing activity. This comes despite a massive 22 bps jump in the average rate of the most popular US home loan to above 7% again – its highest since November last year.