- Prior -5.6%
- Market index 580.6 vs 572.8 prior
- Purchase index 283.4 vs 277.3 prior
- Refinancing index 2,349.8 vs 2,351.3 prior
- 30-year mortgage rate 3.52% vs 3.33% prior
Despite a 19 bps jump in the long-term rate to 3.52% - the highest since March 2020 - mortgage applications were higher in the past week owing to a solid bump in purchases activity. That continues to underscore that housing demand is still holding up but we'll see how things go if rates continue to trend higher in the weeks/months ahead.
