• Prior -2.3%
  • Market index 288.4 vs 308.3 prior
  • Purchase index 208.2 vs 224.1 prior
  • Refinancing index 709.5 vs 751.6 prior
  • 30-year mortgage rate 5.40% vs 5.33% prior

The awful readings continue with the market index tumbling to a fresh 22-year low, suggesting that the housing market is cooling amid the rise in rates. The question now is how will all this feed into house prices, which have yet to significantly come off the boil. And if it does, what exactly does that say about the state of the US economy in general?