- Before -8.1%
- Market index 425.1 vs. 456.2 before
- Buy index 267.1 vs 265.4 before
- Refinancing index 1,295.1 vs 1,522.7 before
- 30-year mortgage rate 4.80% vs. 4.50% previously
The decline in mortgage applications stemmed from another drop in refinancing activity, as the 30-year mortgage rate jumped 30 basis points to its highest rate in more than three years. Soaring rates continue to weigh on overall housing market sentiment, which has suffered somewhat for the past few months now.