Climbing mortgage rates have slowed demand for refinance applications, while purchase applications remain strong moving into spring, according to Mortgage Bankers Association
Mortgage applications and refinance applications increased during the week ending Dec. 11, 2020, according to the Mortgage Bankers Association's weekly survey
The average contract interest rate for 30-year, fixed-rate mortgages dropped to 3.45%, its lowest level since the Mortgage Bankers Association began its weekly survey
The 30-year fixed mortgage rate is still up more than half a percent from last year, according to Freddie Mac