The Market Composite Index increased 7.2 percent on a
seasonally adjusted basis from one week earlier. The Refinance Index increased
11 percent from the previous week. The seasonally adjusted Purchase Index was
unchanged from one week earlier. Last year, the Fourth of July fell on the
prior week.
The average contract interest rate for conforming 30-year
fixed-rate mortgages decreased to its lowest level since May 2013, 3.60
percent, from 3.66 percent.
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