Mortgage demand drops to the lowest level since 1996
Mortgage rates have continued their upward trajectory, registering a substantial increase last week.
Consequently, total mortgage demand saw a decline of 6% compared to the prior week, as reported by the Mortgage Bankers Association’s seasonally adjusted index.
The average contract interest rate for 30-year fixed-rate mortgages, within the limits of conforming loan balances ($726,200 or less), rose to 7.53% from 7.41%.
This change was accompanied by an increase in points to 0.80 from 0.71, which includes the origination fee, for loans featuring a 20% down payment. For reference, this rate stood at 6.75% during the same week one year ago, CNBC reported.
READ MORE: https://www.cnbc.com/2023/10/04/mortgage-demand-falls-to-lowest-level-since-1996.html
Links for B.C.
Visit My Website
https://bcbegley.com
Follow Me On Facebook
https://www.facebook.com/B.C.Begley
Subscribe To My Patreon
https://www.patreon.com/bcbegley
Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A
Follow Me On Twitter
https://twitter.com/BC_News1
Watch Me On Rumble
https://rumble.com/c/c-280191
Follow Me On Gab
https://gab.com/BC_Begley
-
0:53
Homes In Orlando For Sale
1 year agoMortgage Rates Drop to 3-Month Lows
2 -
0:54
Homes In Orlando For Sale
1 year agoMortgage Rates Fall Back to Multi-Month Lows
-
0:50
Homes In Orlando For Sale
1 year agoMortgage Rates Drop Sharply, Hitting Lowest Levels Since Mid-September
-
6:45
MichaelBordenaro
2 years agoMortgage DEMAND at 22 YEAR LOW! Buyers are DISAPPEARING!
-
0:39
Homes In Orlando For Sale
1 year agoMortgage Rates Drop Sharply!
3 -
59:56
Today's Mortgage Rates and San Diego Real Estate Analysis
10 months agoMortgage Demand drops amid record high home prices - what is really going on?
6 -
27:03
Today's Mortgage Rates and San Diego Real Estate Analysis
1 year agoMortgage demand at 22-year low, how much worse can it get?
12 -
0:29
ChrisMincolla
6 months ago% Mortgage Rates drop demand rises for homes 🏡
-
6:12
Abbas Mohammed
1 year agoWhy Mortgage Rates Are DROPPING... 2022 Housing Market
1 -
0:46
NextNewsNetwork
7 months agoMortgage rates plummet to 7.61%, sparking a 2.5% increase in applications
1.44K3