Prior -5.0%
Market index 343.1 vs 374.0 prior
Purchase index 234.7 vs 254.0 prior
Refinancing index 930.7 vs 1,023.2 prior
30-year mortgage rate 5.37% vs 5.20% prior

The average rate of the most popular US home loan jumps to its highest since June 2009 and the rising costs have certainly weighed on demand conditions, as mortgage activity slumped heavily once again. The purchase index has fallen to its lowest since May 2020 while the refinancing index is down to its weakest since January 2019.