MBA Weekly Applications Survey Dec. 1, 2021: Refis Take a Hit as Rates Reach 8-Month High

Despite a steady increase in purchase applications, overall mortgage application activity got swamped by a sharp drop in refinance applications as interest rates spiked to their highest rate since April , the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 26.

MBA Weekly Applications Survey Dec. 1, 2021: Refis Take a Hit as Rates Reach 8-Month High

Despite a steady increase in purchase applications, overall mortgage application activity got swamped by a sharp drop in refinance applications as interest rates spiked to their highest rate since April , the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 26.