According to CoinMeta, mortgage loan rates have reached their highest level in a year, leading to a decline in demand to the levels of the same period last year. According to the Seasonal Adjustment Index of the Mortgage Bankers Association, the total number of mortgage applications decreased by 2.9% week-on-week last week, and the application volume was also 5% lower than the same period last year. This is the first time since April that there has been a decline in annual application volumes. The average contract rate for 30-year fixed-rate mortgages rose from 6.76% to 6.81%, while the points decreased from 0.69 to 0.65. The decline in mortgage demand indicates that higher mortgage loan rates have weakened overall demand.