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US MBA mortgage applications down -7.4% in w/e 7 July

US MBA mortgage report now out 12 July - mortgage market index to 391.9 vs 423.3 prev - refinance index 1210.5 vs 1391.0 prev, down 13% - ave 30year mortgage rate rises to 4.22% vs 4.2% prev Soggier report overall but not a price mover in its own right.