Home Refinances Plunge 40%

Posted: April 4, 2026 | Source: www.homes.com

The Iranian conflict has caused the mortgage market to tremble, resulting in a sharp decline in demand, particularly for refinances. According to the Mortgage Bankers Association, the demand for mortgages fell precipitously for a third consecutive week, with a 10.4% decrease in total applications. Refinancing activity has decreased by 40% since late February due to a roughly 40 basis point increase in mortgage rates.