Name: Mortgage Applications are Dropping Like a Rock
Uploaded: 2022-02-09T23:07:22+00:00
Duration: 16 min 54 s
Description: Mortgage applications are on the decline, and fast. But prices are still going up despite the fact that higher mortgage rates usually result in downward pressure on home prices. Because of this, unaff

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2 years ago

Mortgage applications are on the decline, and fast. But prices are still going up despite the fact that higher mortgage rates usually result in downward pressure on home prices. Because of this, unaffordability is going through the roof and buyer sentiment is at an all time low. The inventory supply is just not there to meet the demand, and will not be for a long time.

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Sources:
https://www.cnbc.com/2022/02/09/homebuyer-demand-for-mortgages-drops-10percent.html
https://www.bloomberg.com/news/articles/2022-02-04/in-sizzling-u-s-housing-market-normal-is-a-long-way-off
https://www.bloomberg.com/news/articles/2022-02-07/never-been-a-worse-time-to-buy-a-home-in-poll-of-u-s-households
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