Mortgage [rates surged to 6.44%](https://www.realtor.com/news/real-estate-news/mortgage-rates-rise-6-44-october-17-2024/) for a 30-year fixed loan in the week ending Oct. 17—the highest in roughly two months. In the face of these elevated rates, the number of applications for home purchases went down this week. However, they still remained above the previous year’s pace, which indicates some improvement in homebuyer demand.
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