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Applications for mortgages are dropping as mortgage interest rates keep rising while home sellers are lowering their prices as additional supply hits the market, according to multiple reports.
The housing market has seen a slowdown in activity despite a strong bump in jobs and wage growth in March.
For the week ending March 4, 2022, mortgage applications increased 8.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. See:...
The average rate for a 30-year fixed mortgage rose close to a full percentage point from the start ...
The residential mortgage industry is entering a new era with mortgage origination rates dropping 11% from the third quarter of 2021 and 13% from the fourth quarter of 2020, according to ATTOM's report.