Mortgage Apps Down 1.6% as Rates 6.37%

Mortgage applications fell 1.6% week‑over‑week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The average 30‑year fixed‑rate mortgage rose to 6.37% from 6.35%, while points stayed at 0.61% for 20% down loans.
Refinance applications dropped 4% but stayed 51% above a year ago, whereas purchase applications rose 1% and were 21% higher YoY.
More housing inventory entered the market and buyers appear to be adjusting to news about the war with Iran.