The latest data from the MBA’s weekly application survey revealed a significant 17% decrease in mortgage applications compared to the previous week. This decline can be attributed to a surge in mortgage rates, impacting the overall demand for home loans.
Key points:
– Mortgage applications dropped by 17% from the previous week
– The decrease in applications is linked to a notable increase in mortgage rates
– The MBA’s weekly application survey for the week ending Oct. 11 provided this insightful data
– The decline in applications highlights the sensitivity of the mortgage industry to fluctuations in interest rates, influencing consumer behavior.
You can read this full article at: https://www.housingwire.com/articles/mortgage-applications-nosedive-17/(subscription required)
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