- Prior -0.8%
- Market index 255.0 vs 258.1 prior
- Purchase index 198.1 vs 197.8 prior
- Refinancing index 532.9 vs 556.4 prior
- 30-year mortgage rate 6.01% vs 5.94% prior
The standout detail is that the average interest rate for the most popular US home loan rose above 6% for the first time since 2008, more than doubling the level it was a year ago. Mortgage activity continued to decline, largely as a result from a fall in refinancing this week as the housing sector continues to feel the impact of higher rates in general. And we can still look forward to another 75 bps rate hike by the Fed next week. Fun.
