US MBA mortgage applications w.e. 24 June +0.7% vs +4.2% prior

• Prior +4.2%
• Market index 322.7 vs 320.4
• Purchase index 243.1 vs 242.8
• Refinancing index 726.1 vs 712.7
• 30-year mortgage rate 5.84% vs 5.98% prior

A slight rise in mortgage activity was seen last week after what I would say was a bit of a rush in home buying before the Fed raised rates again. The average rate of the most popular mortgage tenor did drop by 14 bps to 5.84%, but it still isn't of much comfort to prospective home owners I would say after having seen a 33 bps rise in the week prior.

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