Mortgage Update: After weeks of decline, mortgage rates ticked up for the first time in 9 weeks to 6.72%, causing total mortgage applications to drop 6.2%. Refinance applications fell 13% for the week but remain 70% higher than this time last year, while purchase applications stayed relatively flat, up just 0.1% week-over-week. The good news is that growing home inventories and steadier rates continue supporting spring homebuying despite this temporary setback. The Fed's rate position could impact where rates head next. If you've been on the fence about buying or refinancing, this shifting landscape may factor into your timing decisions
Source: https://www.cnbc.com/2025/03/19/weekly-mortgage-demand-pulls-back-as-interest-rates-rise-for-the-first-time-in-9-weeks.html
