- Prior +1.9%
- Market index 190.3 vs 201.9 prior
- Purchase index 138.4 vs 140.0 prior
- Refinance index 463.8 vs 536.9 prior
- 30-year mortgage rate 7.05% vs 7.01% prior
The main cause for the drop in mortgage applications in the past week is a big decline in refinancing activity. It comes after a bit of a bounce in recent weeks. But if anything else, it reaffirms that the housing market is still soft-ish.
