Mortgage applications will fall by 13.2% by the end of 2022 as interest rates rise once more.

Mortgage interest rates spiked again at the end of the year after a brief respite in the first half of December, weighing on mortgage demand. The seasonally adjusted index maintained by the Mortgage Bankers Association showed a 13.2% drop in mortgage application volume as of the end of last week compared to the previous two weeks. Last week's holidays kept MBA officials from working. Since last week, the average contract interest rate for ....