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Mortgage applications recover as winter storms pass

Mortgage applications recovered slightly from last week, increasing 0.5% for the week ending Feb. 26, 2021 according to the latest report from the Mortgage Bankers Association.

A giant dip in applications was reported following the devastating winter storms in Texas the week of Feb. 8, but a week of normalized weather brought numbers back up, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting.

That is despite the fact that the 30-year fixed rate experienced its largest single-week increase in almost a year, reaching 3.23%.

The refinance share of mortgage activity decreased to 67.5% of details ⇒

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