Mortgage applications fell to their lowest level since December 1996, despite a slight drop in mortgage rates last week.
industry experts attribute the drop in applications to the rise in home prices and the difficulty of qualifying for a mortgage.
The decrease in application volume is a cause for concern for the housing market, which has been struggling to regain its footing since the collapse in 2008.
The most important elements of the text are:
– Mortgage applications fell to their lowest level since December 1996
– There was a slight drop in mortgage rates last week
– The decrease in application volume is a cause for concern for the housing market
You can read this full article at: https://www.housingwire.com/articles/mortgage-demand-falls-to-lowest-level-since-1996/(subscription required)
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