US MBA mortgage applications w.e. 22 July -1.8% vs -6.3% prior

  • Latest data from the Mortgage Bankers Association for the week ending 22 July
  • Prior -6.3%
  • Market index 276.0 vs 281.1 prior
  • Purchase index 206.4 vs 208.0 prior
  • Refinancing index 631.4 vs 655.7 prior
  • 30-year mortgage rate 5.74% vs 5.82% prior

Mortgage activity continues to decline with both purchases and refinances falling once again. Housing market sentiment isn't looking good and that may be a spot that the Fed needs to watch in the months ahead.

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