New applications along with refinancing for mortgages dropped from a year ago as rates continued to climb.

<div class="block">New applications along with refinancing for mortgages dropped from a year ago as rates continued to climb.</div>

Need2Know Headlines

Mortgage Demands Drop as Rates Soar

And in the housing market mortgage rates at their highest since March causing a debt to demand. The average on the common 30 year fixed rate mortgage just under 76.7%. Excuse me up from a full percent from the same time a year ago. You can see on your screen that demand is significantly lower than this time. Last year. Mortgage rates have been on the rise as the fed's path forward for rates remain murky and debt ceiling negotiations in Washington remain at a standstill risking a possible US default.