Mortgage Applications Fall as Interest Rates Remain High

Mortgage demand nosedives as interest rates cross back over 7%

A key measure of home-purchase applications fell sharply last week as mortgage rates surged to the highest level in two months.The Mortgage Bankers Association's (MBA) index of mortgage applications tumbled 10.6% for the week ended Feb. 16, compared with a 2.3% drop the previous week, according to new data published Wednesday. The data also showed that the average rate on the popular 30-year loan rose to 7.06% last week. While that is down from …

Mortgage demand takes a massive hit as interest rates cross back over 7%

Mortgage interest rates surged last week to the highest level since early December, and that hit mortgage demand hard. Total application volume plunged 10.6% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Mortgage Applications Plunge After Warning Sign About Interest Rates

Mortgage rates rose to more than 7 percent which discouraged buyers from entering the market, lenders said.

Mortgage applications slump as rates return above 7% - HousingWire

Mortgage demand continued its downward trajectory last week as interest rates moved back above the 7% mark.

Interest rate reduction on mortgage loans

Banks are responding to the climate of caution among households as regards taking out a loan with new cuts in mortgage rates, in a bid to spark the interest of potential new buyers. They are also extending, until the end of the year, the interest rate freeze in force since last May for existing borrowers. […]