• Prior -8.1%
  • Market index 425.1 vs 456.2 prior
  • Purchase index 267.1 vs 265.4 prior
  • Refinancing index 1,295.1 vs 1,522.7 prior
  • 30-year mortgage rate 4.80% vs 4.50% prior

The fall in mortgage applications comes from another drop in refinancing activity, as the 30-year mortgage rate surges by 30 bps to its highest rate in over three years. The surge in rates continues to dampen the overall housing market sentiment, which has been struggling somewhat over the past few months now.