Mortgage Bankers Association (MBA)

With inflation at 5.7% in 2021, the Fed indicates a rate hike is coming ‘soon’, most likely during its meeting March 15-16.

All mortgage rates in MBA's survey continued to climb, with the 30-year fixed-rate rising for the fifth consecutive week to its highest level since March 2020.

The Mortgage Bankers Association’s (MBA) new monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 26 basis points from 1.67% of servicers’ portfolio volume in the prior month to 1.41% as of Dec. 31, 2021.

The Refinance Index decreased 0.1% from the previous week and was 50% lower than the same week last year.

MBA says the MISMO board is leading efforts to deploy essential standards & innovative resources that solve the industry's highest-priority business challenges.  

While availability rose, the overall index was 30% lower than February 2020 and close to the lowest supply of mortgage credit since 2014.