- Prior -5.4%
- Market index 466.4 vs 537.0 prior
- Purchase index 250.7 vs 279.0 prior
- Refinancing index 1,677.7 vs 1,988.8 prior
- 30-year mortgage rate 4.06% vs 4.05% prior
That's another sharp fall in mortgage applications as both purchases and refinancing activity are falling rather rapidly. Higher rates appear to be the problem here and is weighing on housing conditions, so that is something to be wary about. As much as the Fed hasn't exactly tightened yet, we are already seeing signs of that in the housing market as per the above.
