applications declined for the third week in a row with rising mortgage rates and inflation rateses crushing home buyers, a 30-year mortgage is around 5.5%. that s around 2 points above where it was a year ago. housing prices, they continue to climb. the new median price for an existing home is $416,000. that s the new record. it s the 124th consecutive month of year over year increases. that s the longest streak on record. that combo of rising interest rates and rising home prices, it s forcing people out of the market. there s been some adjustment in the market. 13% of home builders in the index survey say they re reducing home prices to bolster sales and limit cancellations. when it comes to houses in existence, realtors like jane say that those sellers are holding firm on the price. yes, it s taking longer to sell,