- -12.6% ahead
- Market index 168.4 vs 174.9 previously
- Buy index 127.7 vs 136.7 previously
- Refinancing index 401.1 vs 395.1 previously
- 30-year mortgage rate 6.99% vs. 6.97% previously
After a big drop in the previous week, mortgage applications are falling further again to start the new year with buying activity weighing this time. That was partly offset by a slight increase in refinancing activity, after a sharp drop in the previous week here. With rates continuing to rise, the outlook for the start of the year for the mortgage market is not bright.
This article was written by Justin Low at www.forexlive.com.
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