According to the Mortgage Bankers Association, mortgage applications have experienced a significant decline for six consecutive weeks, largely attributed to the rise in interest rates. This trend is concerning for both home buyers and lenders in the current market climate.
Key points from the report include:
– Mortgage applications have decreased for six weeks in a row
– The drop is primarily a result of higher interest rates
– This trend has implications for both home buyers and lenders in the industry
– The Mortgage Bankers Association’s findings underscore the impact of interest rates on the housing market
You can read this full article at: https://www.housingwire.com/articles/mortgage-demand-sinks-yet-again-as-rates-move-closer-to-7/(subscription required)
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