Prior -8.5%Market index 233.5 vs 267.5 priorPurchase index 153.4 vs 164.2 priorRefinance index 673.6 vs 841.9 prior30-year mortgage rate 6.90% vs 6.81% prior
This is never a market moving release. Of course, as long term interest rates rise, mortgage applications fall. The mortgage market index and the US30Y yield are inversely correlated.
This article was written by Giuseppe Dellamotta at www.forexlive.com.