(March 18): US mortgage rates jumped last week to the highest level of the year, leading to a sharp pullback in refinancing activity. Rates on five-year adjustable mortgages soared nearly 40 basis points last week, the most since the start of 2024. The MBA’s measure of refinancing applications slumped 18.5% on the week, the most this year. While the group’s measure of purchase activity edged up for a third week, the recent increase in mortgage rates threatens a pullback in demand ahead of the crucial spring selling season. The MBA survey, which has been conducted weekly since 1990, uses responses from mortgage bankers, commercial banks and thrifts.

Source: The Edge Markets March 18, 2026 13:15 UTC