Mortgage refinance demand drops 18% as rates hit highest level since August

Mortgage rates rose to their highest level in 9 months, pressuring refinance demand the most. Homebuyer activity also softened, though purchase demand remained above year-ago levels. The article points to a modest headwind for housing-related activity rather than a major market disruption.

Analysis

Mortgage rates rose to their highest level in 9 months, pressuring refinance demand the most. Homebuyer activity also softened, though purchase demand remained above year-ago levels. The article points to a modest headwind for housing-related activity rather than a major market disruption.