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2026-02-18 20:03:57
[US Mortgage Rates Slightly Decline to 6.17%, Refinancing Demand Surges 7.1%] ⑴ Data released Wednesday by the Mortgage Bankers Association showed that the average contracted interest rate for a 30-year fixed-rate mortgage fell 4 basis points to 6.17% in the week ending February 13. This marks the second consecutive week of decline in mortgage rates. ⑵ The lower interest rates stimulated refinancing demand. The mortgage refinancing index surged 7.1% to 1375.9, a recent high, indicating borrowers' high sensitivity to interest rate changes. ⑶ However, home purchase demand did not recover in tandem. The seasonally adjusted home purchase index fell 2.7% to 157.1, suggesting potential homebuyers are still on the sidelines, possibly influenced by high home prices and tight inventory. ⑷ Overall, the mortgage market composite index rose 2.8% to 339.0. The slight decrease in interest rates injected vitality into the refinancing market but failed to effectively boost new home purchase demand, reflecting a structural divergence in the real estate market.
