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MBA July 5 week mortgage applications.......>

US DATA
US DATA: MBA July 5 week mortgage applications -2.4%. The refi index -7%, but
the purchase index +2% (+6% y/y NSA). MBA made an adjustment for the
holiday-shortened week.
- The average 30-year conforming mortgage rate fell to 4.04% from 4.07% in the
previous week. MBA note that buyers are becoming less sensitive to lower rates,
as activity fell this week despite the decline in mortgage rates.

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