Mortgage rates rose last week, causing a large drop in demand for refinances. Homebuyer demand was essentially flat.
source https://www.cnbc.com/2026/01/28/mortgage-demand-drops-8point5percent-as-interest-rates-swell-to-the-highest-level-in-3-weeks.html
Mortgage demand drops 8.5%, as interest rates swell to the highest level in 3 weeks
January 28, 2026
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Mortgage demand drops 8.5%, as interest rates swell to the highest level in 3 weeks
Housing Market