• 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.