Mortgage Rates Rise to Highest Level in Nearly a Year, Causing Homebuyers to Pause The mortgage market has been sending mixed signals, but last week's data was clear: rates are on the rise, and homebuyers are taking a step back.
For many would be homeowners, this is a development that requires careful consideration and financial discipline. The Mortgage Bankers Association reported a 2.
7% drop in total mortgage application volume last week compared with the previous week. Purchase mortgages fell by 7%, while refinance demand rose by 4%.