- Before -5.6%
- Market index 580.6 vs 572.8 before
- Buy index 283.4 vs 277.3 before
- Refinancing index 2,349.8 vs. 2,351.3 before
- 30-year mortgage rate 3.52% vs. 3.33% before
Despite a 19bp jump in the long-term rate to 3.52% – the highest since March 2020 – mortgage applications rose last week on a surge in buying activity. This continues to underscore that housing demand is holding up, but we’ll see how things turn out if rates continue to rise in the weeks / months to come.