- Prior +2.5%
- Market index 358.9 vs 351.8 prior
- Purchase index 255.4 vs 244.4 prior
- Refinancing index 913.6 vs 932.3 prior
- 30-year mortgage rate 5.53% vs 5.36% prior
The average 30-year home loan rate in the US rose to its highest level since 2009 last week to 5.53% but that didn't quite stop demand for mortgages, as applications ticked higher for a second week running. Despite the improvement in purchases on the week, it still doesn't take away from the fact that the level is 8% lower than it was in the same week a year ago.
The housing market continues to offer mixed signals with house prices still flashing double-digit annual price growth despite mortgage activity falling rather considerably since last year: