Today: 24. Dec, 2024
As mortgage interest rates continue progressing upward, the mortgage industry is witnessing a significant shift in consumer preferences and behaviours. The demand for mortgages has slowed down to its lowest pace since 1995, with total application volume experiencing a 1% drop last…
In a surprising turn of events, the demand for mortgages has dropped to its lowest point since 1996, primarily driven by the steep rise in interest rates. As they edge closer to the 8% mark, potential homebuyers and current homeowners looking to…
Last week saw a surge in mortgage rates, spurred by robust economic data intensifying fears that the Federal Reserve might not decrease interest rates soon. Consequently, the demand for mortgages hit the lowest point since late February. The average contractual interest rate…
The combination of higher mortgage rates and a severe shortage of available homes negatively impacts the demand for mortgages. According to the seasonally adjusted index from the Mortgage Bankers Association, mortgage applications for home purchases dropped by 4.8% last week compared to…
