Mortgage Mix: Rates Fall, but Not Below 7%
RISMedia’s latest weekly Mortgage Mix looks at elevated rates and a boosted application rate.
Source: rismedia.com
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RISMedia’s latest weekly Mortgage Mix looks at elevated rates and a boosted application rate.
Mortgage rates sit at high levels while applications continue a decline.
Jobs numbers, inflation data and the continued debate over raising the debt ceiling are factors applying upward pressure.
The economic situation is more like what happened during the mid-'80s thrift crisis than the 2008 downturn, said Chief Economist Doug Duncan.
The mortgage rate outlook is improving, but lenders and companies are still trying to adapt to the changes.