• Prior +1.2%
  • Market index 279.8 vs 279.2 prior
  • Purchase index 205.4 vs 208.4 prior
  • Refinancing index 662.9 vs 640.6 prior
  • 30-year mortgage rate 5.47% vs 5.43% prior

The increase in mortgage activity owes to refinancing in the past week as home purchases were seen falling once again. As the Fed's battle against inflation continues to rage on, it is hitting the US housing market and that is something to be wary of as economic conditions does show signs of worsening in the months ahead.