US MBA mortgage applications w.e. 6 June +12.5% vs -3.9% prior ...Middle East

Prior -3.9%Market index 254.6 vs 226.4 priorPurchase index 170.9 vs 155.0 priorRefinance index 707.4 vs 611.8 prior30-year mortgage rate 6.93% vs 6.92% prior

After weeks of slumping, mortgage applications bounced back strongly in the past week with both purchases and refinancing activities surging higher. The jump in the purchase index in particular is the highest since the week ending 4 April. The average rate of the most popular US home loan continues to stick higher though, holding near 7% still.

This article was written by Justin Low at www.forexlive.com.

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