Highlights
The Mortgage Bankers' purchase index came back down in the June 22 week, slipping 4.9 percent to 428.9 though the four-week average edged 1 tenth higher to a still solid 444.5.

There was good news on rates which were stable to lower in the week: 30-year fixed mortgages were unchanged at 6.60 percent; 15-year fixed mortgages decreased 4 basis points to 6.24 percent; one-year adjustable mortgages fell 19 basis points to 5.51 percent.

Refinancing applications were also steady, making up 38.7 percent of all applications for a 7 tenth increase in the week. The refinancing index slipped 2.5 percent to 1,731.6.

MBA's report has been one of the only bright spots for housing data. Next data on the sector will be construction spending on Friday.