- Prior -3.1%
- Market index 193.0 vs 194.5 prior
- Purchase index 149.5 vs 149.9 prior
- Refinance index 408.4 vs 416.1 prior
- 30-year mortgage rate 7.16% vs 7.09% prior
Mortgage applications continue to fall, this time largely due to a drop in refinancing activity. It’s not a good look for mortgage activity since the Fed began tightening monetary policy and even as we are near a pivot point, higher yields is not helping the overall outlook of the housing market for now.