Mortgage applications fell 2.9% from the previous week, with refinance applications down 2% and purchase applications down 4%. Mortgage rates rose, with the 30-year fixed rate reaching 6.81%, the highest in over a year. Higher rates have weakened demand, with refinance share at 39.9% and adjustable-rate mortgages at 7.9%. The Mortgage Intent Index dropped to its lowest non-holiday level since December 2025.
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