US MBA mortgage applications w.e. 14 April -8.8% vs +5.3% prior

• Prior +5.3%
• Market index 209.2 vs 229.5 prior
• Purchase index 161.6 vs 179.6 prior
• Refinance index 449.8 vs 477.5 prior
• 30-year mortgage rate 6.43% vs 6.30% prior

That's a sharp retreat in mortgage activity in the past week as the interest rate of the most popular US home loan jumps higher, following the move higher in rates as well. The continued climb so far this week won't be good news for homebuyers and will add to pressure on the housing market again, after a bit of a reprieve in the past two months or so.

/US Dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term