Source: CNBC
“A brief roller coaster ride for mortgage rates caused yet another swing in demand. After dropping to a three-year low two weeks ago, rates then shot right back up again. As a result, total mortgage application volume dropped 12.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The drop was mostly driven by a pullback in refinancing. Applications to refinance a home loan fell 21% for the week and were 16% higher than the same week one year ago.” (10/01/25)