Mortgage Rates Hit 9-Month High, and Loan Demand Drops Further

CNBC, Jan. 5, 2022–Diana Olick
The economic damage from the omicron variant of the coronavirus is now expected to be less than initially thought, and that has interest rates back on their upward trajectory yet again. As a result, mortgage demand fell 2.7% to end 2021, compared with two weeks before, according to the Mortgage Bankers Association’s seasonally adjusted index.