MBA: 7.12% Mortgage Rate Sends Refis to Slowest Since 2025
The refinancing channel just went dark. The Mortgage Bankers Association's Weekly Applications Survey for the week ending September 18, released September 23, shows refinance applications 62% below the same week one year ago, and Fratantoni confirmed the pace of refinancing is the slowest since February 2025. That is the demand side of the housing market shutting a door in real time, and it happened at the exact week the conforming 30-year fixed crossed to 7.12%, the highest since May 2024.
Key Takeaways Refinance applications ran 62% below the same week a year earlier in the MBA survey for the week ending September 18; the pace of refinancing is the slowest since February 2025. The 30-year f…
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