With Interest Rates Soaring, Weekly Mortgage Demand Nosedives 11% – A Warning Sign For The Real Estate Market?
Benzinga
2024-11-14
Views 4.1K
According to the Mortgage Bankers Association (MBA), mortgage demand took a sharp dive, with applications plummeting 11% as interest rates hovered above 7%. The MBA's Chief Economist, Mike Fratantoni, remarked that affordability is being squeezed tightly and first-time buyers, particularly, are feeling the heat.
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