Bye, bye refi: Purchase mortgage apps overtake refis
Housing Wire
MARCH 2, 2022
It’s official: the mortgage industry has entered a purchase era , with refinance applications declining below 50% of the mix for the first time since June 2019, the Mortgage Bankers Association (MBA) reported on Wednesday. Mortgage applications decreased 0.7% for the week ending Feb. 25, as mortgage rates reached 4.15%. Compared to the same week one year ago, applications dropped 41.7%.
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