Current borrowers and potential buyers are apparently watching every interest rate move, and reacting accordingly. Higher in rates over the last two weeks sent total mortgage applications into a slide, falling 10.1% last week, according to the Mortgage Bankers Association.
Higher in rates over the last two weeks send mortgage applications into a slide, according to the Mortgage Bankers Association.
Higher in rates over the last two weeks sent total mortgage applications into a slide, falling 10.1% last week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was still 46% higher than a year ago, when interest rates were even higher and refinancing was incredibly slow.
As a result, applications to refinance a home loan, which are highly rate-sensitive, fell 15% for the week, although they are still 104% higher than a year ago.
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