Mortgage Applications Down To 22-Year Low Due To Inflation And Rising Interest Rates

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In: Mortgage News

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The pain in the mortgage market is only getting worse as higher interest rates and inflation weigh on the American consumer. Demand for mortgages fell more than 6% last week from the previous week, hitting the lowest level since 2000,Continue Reading

Interest Rate Hike Declines Mortgage Application

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In: New Home Mortgage News

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Interest rates on residential mortgages fell 1.2% for the week finishing March 11 as mortgage rates increased to their most significant levels since May 2019, as indicated by the Mortgage Bankers Association’s most recent overview. “Mortgage rates keep on beingContinue Reading

Mortgage applications have dropped 4%

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In: Mortgage News

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While the rates for 30-year fixed mortgages rose from 3.15% to 3.18%, mortgage applications have fallen on a seasonally adjusted week-over-week basis by 4.2%. On the other hand, the numbers dropped by 4% on an unadjusted basis. The refinance indexContinue Reading