Mortgage Demand Drops Again
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Mortgage demand fell again this week.
Mortgage application volume dropped about 2% last week compared to the previous week, the Mortgage Bankers Association (MBA) reported on Wednesday.
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"Both purchase and refinance applications fell, with the purchase index hitting a 28-year low, as prospective buyers remain on the sidelines due to low housing inventory and elevated mortgage rates,” Joel Kan, MBA’s Vice President and Deputy Chief Economist, said in a release.
On Thursday, Freddie Mac will release its weekly interest rates.
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This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_drops_again/21432.
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