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Mortgage rates rise to highest in three weeks, demand weakens

Last week, rates increased again, pushing refinance and purchase loan demand lower.

Reported · Written up by our desk · Mortgages

Mortgage rates rose again last week to the highest level in three weeks, weakening borrower demand for both refinances and new purchase loans, CNBC Markets reports.

The increase follows a broader pattern of cooling activity as higher rates make mortgages more expensive for households and refinance seekers.

CNBC World and CNBC Real Estate also reported the same three-week-high level and the accompanying drop in refinance and purchase demand.

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