【CNBC】Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher

• Last week’s average rate on the 30-year fixed was 6.97%, but it has since surged to 7.22%
• Applications to refinance a home loan dropped 9% for the week and were 65% lower than the same week one year ago.
• Applications for a mortgage to purchase a home dropped 1% for the week and were 19% lower than the same week one year ago.

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