US MBA mortgage applications w.e. 25 April -4.2% vs -12.7% prior

• Prior -12.7%
• Market index 223.7 vs 233.5 prior
• Purchase index 146.6 vs 153.4 prior
• Refinance index 649.0 vs 673.6 prior
• 30-year mortgage rate 6.89% vs 6.90% 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.