US MBA mortgage applications w.e. 19 January +3.7% vs +10.4% prior

<ul><li>Prior +10.4%</li><li>Market index 218.2 vs 210.5 prior</li><li>Purchase index 174.3 vs 162.2 prior</li><li>Refinance index 438.4 vs 471.2prior</li><li>30-year mortgage rate 6.78% vs 6.75% prior</li></ul><p>Mortgage applications continue to see a rebound to start the year, this time as the rise in services activity outpacing the drop in refinancing activity. Of note, the purchase index (chart below) is now at the highest since April last year. That reaffirms some improvement in housing market sentiment in recent weeks at least.</p>

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