Mortgage Rates Drop, But Buyers Remain on Sidelines
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A drop in mortgage rates last week was not enough to get homebuyers after the sidelines.
The Mortgage Bankers Association (MBA) reported Wednesday that total mortgage application volume dropped 2% last week.
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“Purchase applications decreased as ongoing affordability challenges persist with rates at their current levels and with home-price appreciation still strong in many markets,” Joel Kan, an MBA economist, said in a release.
See other articles related to: mortgage demand
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_drop_but_buyers_remain_on_sidelines/22549.
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