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Mortgage Rates Drop, But Buyers Remain on Sidelines

  • July 24th 2024

by UrbanTurf Staff

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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. 

“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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