Mortgage Demand Drops to 27-Year Low
The Pro Builder
SEPTEMBER 27, 2023
Mortgage Demand Drops to 27-Year Low ldeakins Wed, 09/27/2023 - 10:10 The highest mortgage rates in two decades are causing buyers and prospective sellers to pull back from the housing market At 7.41%, 30-year fixed-rate mortgages have reached their highest level since 2000, resulting in a 27-year low in mortgage demand, CNBC reports. Total mortgage application volume fell by 1.3% last week compared with the previous week, and was down 25.5% year-over-year, according to the Mortgage Bankers Asso
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