Updated

Mortgage demand from homebuyers fell 19% from a year earlier as interest rates surged abruptly higher, reaching their highest level since the start of 2025, according to CNBC. The sharp pullback reflects renewed affordability pressure on prospective buyers as borrowing costs climbed. However, mortgage and refinance rates eased somewhat on Wednesday ahead of the Federal Reserve's rate decision, according to Yahoo Finance, offering a brief reprieve for prospective borrowers as markets awaited the central bank's next move.