MBA Weekly Applications Survey February 9, 2022: Rising Rates Put Damper on Refis
The Mortgage Bankers Association announced Wednesday in its Weekly Mortgage Applications Survey for the week ending February 4th that mortgage interest rates continued to climb last week, snagging momentum for homeowners anxious to refinance before rates surge even higher.
The Market Composite Index fell by 8.1 percent from the previous week on a seasonally adjusted basis. The unadjusted Refinance Index also fell 7% from the last week, and the refinance share of all mortgage applications decreased to 56.2 percent. The seasonally adjusted Purchase Index dropped 10% from the previous week. Read More