Diana Olick, CNBC Senior Climate and Real Estate Correspondent
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.37% from 5.20%, the highest rate since 2009.
- The adjustable-rate mortgage share of applications last week was over 9% by loan count and 17% based on dollar volume. At 9%, the ARM share was double what it was three months ago.
- Applications to refinance a home loan fell 9% for the week and were 71% lower than the same week one year ago