3-Year High Mortgage Rate at 4.8%, Refinance Applications Plunge 60%
- Brian Turner
- U.S.A. New York City
Mortgage rates continue to climb and 30-year rate reached a 3-year high to 4.8% last week from 4.5% in the week ahead, according to Mortgage Bankers Association. Total mortgage application volume declined 6.8% in the week and refinance applications plunged 60% from a year ago.
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Federal National Mortgage Association | FNMA | 0% | 0% | 0% |
| Bank of America Corporation | BAC | 1% | 30% | 3% |
| J P Morgan Chase & Co | JPM | 1% | 40% | 27% |
| Citigroup Inc | C | -1% | 37% | 12% |