• Prior -8.1%
  • Market index 537.0 vs 567.7 prior
  • Purchase index 279.0 vs 282.3 prior
  • Refinancing index 1,988.8 vs 2,183.5 prior
  • 30-year mortgage rate 4.05% vs 3.83% prior

Mortgage applications continue to tumble in the past week, owing to a big drop in refinancing activity. This comes as the 30-year mortgage rate rises to above 4% for the first time since 2019. As rates continue to soar, this is starting to see quite an impact on the housing market already; and to think that the Fed hasn't exactly started tightening yet.