Mortgage Demand Drops As Rates Hit 22-Year High
✉️ Want to forward this article? Click here.
As mortgage rates rose to new highs for the third straight week, demand is taking a hit.
Mortgage application volume fell about 1% last week compared to the previous week, the Mortgage Bankers Association (MBA) reported on Wednesday.
story continues below
loading...story continues above
“Treasury rates were elevated again last week following mixed data on inflation and more indication of resiliency in the economy, which may pose a challenge to the Federal Reserve’s efforts to lower inflation,” Joel Kan, MBA’s Vice President and Deputy Chief Economist, said in a release.
On Thursday, Freddie Mac will release its weekly interest rates.
See other articles related to: mortgage demand
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_drops_as_rates_hit_22-year_high/21356.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
This week’s Best New Listings includes a bi-level condo north of Adams Morgan's mai... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
DC's Historic Preservation Review Board looks poised to approve changes for one of th... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A Plan For More Development In Van Ness?
- Best New Listings: Windows Galore on Biltmore; One Up, One Down on Swann
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- HPO Recommends Approval For Changes To 280-Unit Building At DC's Reservoir District
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro