US MBA Mortgage Applications US Jun 3 -6.5% vs. -2.3% previously

  • Before -2.3%
  • Market index 288.4 vs. 308.3 before
  • Buy index 208.2 against 224.1 before
  • Refinancing index 709.5 vs 751.6 before
  • 30-year mortgage rate 5.40% vs. 5.33% previously

The dire readings continue with the market index falling to a fresh 22-year low, suggesting the housing market is cooling amid rising rates. The question now is how all this will affect real estate prices, which have not yet fallen significantly. And if so, what exactly does that say about the state of the US economy in general?


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