As expected, the recent rise in rates is having a negative impact on demand for home financing — especially refinances. Thus far, credit easing remains elusive.

On purchase financing, 56 percent of senior mortgage executives saw higher demand in the fourth quarter for government-sponsored enterprise-eligible loans.

The share of executives who experienced stronger demand for GSE purchase mortgages diminished from three months earlier, when it came in at 75 percent.

Source: Mortgage Daily