Mortgage Bankers Association (MBA)

MBA economist: With mortgage rates now at 4.5%, “it is no surprise that refinance volume has dropped by more than 50% compared to this time last year.”

The MBA study found that 76% of the firms posted a pre-tax net financial profit in the fourth quarter, down from 92% in the third quarter.

MBA’s monthly Loan Monitoring Survey found the share of loans in forbearance fell to 1.18%, the 21st consecutive monthly decline.

Despite a small gain in purchase applications as mortgage rates fell, overall applications decline.

​​​​​​​Applications for both home purchases and refinances rose last week as interest rates fell.

Overall lending activity down 11%.