Tag Archives: MBA Purchase Index

The MBA reports that, despite rates still in the 6% range, refinance apps increased 5% over the previous week—but are still 86% lower year-over-year.

As mortgage rates cross the 5%-mark, application volume continues to tail off, the share of ARMs apps rose, a positive sign in purchase demand while affordability challenges linger.

Despite overall mortgage app volume on the upswing to begin 2022, the rise in rates has dropped conventional refis to their lowest levels since January 2020.