Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery. 

Overall, mortgage applications rose by 10.4% in the week ending Jan. 12, compared to one week earlier, on a seasonally adjusted basis, per the Mortgage Bankers Association‘s (MBA) weekly mortgage applications survey. The MBA survey, conducted weekly since 1990, covers over 75% of all U.S. retail residential mortgage applications. 

“Mortgage rates details ⇒

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