Mortgage Demand Drops More than 10% as Rates Hit the Highest Level Since October

March 25, 2026

CNBC, March 25 2026-Diana Olick
Mortgage rates rose last week to the highest level since last fall, and that pushed mortgage demand off a cliff. Total mortgage application volume dropped 10.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
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