Mortgage Refinance Demand Plunge 13% as Interest Rates Climb Toward Two-Year High

CNBC, Jan. 26, 2022–Diana Olick
Mortgage refinance applications, which are highly sensitive to daily rate moves, fell 13% for the week and were 53% lower year over year, according to the Mortgage Bankers Association’s seasonally adjusted index. Rates have now been moving higher for five straight weeks.