- Prior +0.9%
- Market index 184.5 vs 212.5 prior
- Purchase index 160.2 vs 182.5 prior
- Refinance index 310.9 vs 371.4 prior
- 30-year mortgage rate 6.58% vs 6.34%
That’s a sharp drop in mortgage activity in the past week in comparison to the week prior, but the subdued activity also likely owes to a quieter period amid the Christmas and New Year’s break. That said, it doesn’t take away from the fact that overall conditions are torrid with both purchases and refinancing taking a major hit in the past year. For some context, on the year itself, the market index tumbled by over 67%.