The winter housing market has arrived early.

Last week’s rising mortgage rates ended a Five-week series of application winsthe Mortgage Bankers Association reported. The trading group’s application metrics were flat in the week ended Dec. 13, with the overall Market Composite Index falling 0.7% compared with the seven days prior.

The effective interest rate for 30-year fixed-rate mortgages rose eight basis points to 6.75% last week. Interest in conventional and Department of Veterans Affairs-backed home loans pushed the purchase index up 1% weekly, said Joel Kan, MBA vice president and deputy chief economist.

“Shoppers remained active in the purchasing market, supported by a gradual improvement in inventory conditions and a more positive outlook for the economy Labor market” Kan said in a press release.

The Refinance Index, meanwhile, fell 3% on a weekly basis, with VA refi activity bottoming out after an 85% surge last week. Although rates were still moving in the wrong direction earlier this week, refi activity is still up 41% compared to the same period last year.

Many MBA indexes were in the single digits last week, while the federal variable-rate mortgage index was up 24.1% weekly. The effective interest rate for 5/1 ARMs rose over 20 basis points to 6.03% last week.

Rates on the 30-year Jumbo and 15-year FRM rose a few basis points to 6.86% and 6.15%, respectively. While interest rates on Federal Housing Administration loans rose to 6.49%, points fell from 0.91 to 0.79 and the effective interest rate fell.

The slowdown also comes on the eve of the Federal Reserve’s Federal Open Market Committee meeting, which is expected to take place consider cutting interest rates despite persistent inflation. Mortgage rates were trending lower this summer before the first FOMC cut in September trigger some rate instability.