“2024, and particularly the fourth quarter, was a welcome rebound for the industry following a slow pace of origination activity in 2023. The significant, but brief, dip in interest rates in September, followed by a pickup in market sentiment post-election, resulted in more business, with origination activity back to 2022 levels.” --Mike Fratantoni, MBA’s SVP and Chief Economist on commercial and multifamily originations

Mortgage applications increased 2.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Feb. 7, 2025.