• Market index 319.4 vs 358.9 prior
  • Purchase index 225.0 vs 255.4 prior
  • Refinancing index 826.9 vs 913.6 prior
  • 30-year mortgage rate 5.49% vs 5.53% prior

Mortgage activity in the US continues to take a big hit amid rising rates with the purchase index slumping to its weakest since May 2020 and the refinancing index dragged to its lowest since January 2019. This continues to suggest that there is a toll being exerted on the housing market even if prices are still yet to really cool down significantly. There’s a story to tell from the charts below:

US MBA purchase

US MBA refinancing

 US dollar 

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