The Mortgage Bankers Association’s purchase index fell 4% on the week, extending its losing run to six straight weeks — a duration of consecutive losses not seen since the July–August 2023 period, according to Bloomberg. Overall application volume was off 2.7% week over week and sat 37.5% below where it stood at the same point last year, according to CNBC.

The contract rate on conforming loans — those at or below $832,750 — edged up 1 basis point from 7.49%, with points falling slightly to 0.83 from 0.84, according to CNBC. Rates have risen nearly a full percentage point since the end of June.