Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher
Mortgage rates have surged to the highest level since the start of 2025, causing a major pullback in mortgage demand.


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Mortgage rates have surged to the highest level since the start of 2025, causing a major pullback in mortgage demand.

Mortgage demand continued to tumble last week, as mortgage rates surged higher and affordability weakened further.

Mortgage rates rose last week, causing a large drop in demand for refinances. Homebuyer demand was essentially flat.

The Mortgage Bankers Association's seasonally adjusted index reported a 9.7% decline in total mortgage applications despite decreased mortgage rates.

Rates saw the biggest one-week drop in a year, spurring a spike in new purchase and refinance applications.
Mortgage demand barely moved last week as interest rates slightly increased. Demand is still better, however, than it was a year ago.

Homebuyers are seeing very little reason to get a jump on the all-important spring housing market, even with more listings coming up for sale.
Rising mortgage interest rates collided with the slowest month of the year for sales.

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