Mortgage functions decreased 1.2 p.c from one week earlier, based on knowledge from the Mortgage Bankers Affiliation’s (MBA) Weekly Mortgage Functions Survey for the week ending March 11, 2022.
The seasonally adjusted Buy Index elevated 1 p.c from one week earlier. The unadjusted Buy Index elevated 2 p.c in contrast with the earlier week and was 8 p.c decrease than the identical week one yr in the past.
The Refinance Index decreased 3 p.c from the earlier week and was 49 p.c decrease than the identical week one yr in the past.
Bankrate’s 30-year mortgage price has surged to 4.46%.
Right here is a photograph of alligators in Nice Falls, Virginia, up-river from Washington DC. They’re seemingly congregating for the Fed Open Market Committee (FOMC) announcement in the present day.