Mortgage demand hits lowest level since 2018 as rates hit 13-year high
Mortgage demand hits lowest level since 2018 as rates hit 13-year high
CNBC's Diana Olick joins 'Squawk Box' to break down the latest batch of weekly mortgage application data.
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CNBC's Diana Olick joins 'Squawk Box' to break down the latest batch of weekly mortgage application data.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest batch of weekly mortgage application data.
Mortgage rates continued to climb last week, causing another pullback in overall demand, which dropped to its slowest pace since 1997.
The post Mortgage demand hits lowest level since 1997 appeared first on HousingWire.
Mortgage rates continued to climb last week, causing another pullback in overall demand, which dropped to its slowest pace since 1997.
The post Mortgage demand hits lowest level since 1997 appeared first on HousingWire.
Andy Walden, Black Knight vp of enterprise research, joins 'The Exchange' to discuss the drop in mortgage demand and what it says about the housing market.
Andy Walden, Black Knight vp of enterprise research, joins 'The Exchange' to discuss the drop in mortgage demand and what it says about the housing market.
Mortgage demand slipped to the lowest level since December 2018, even after rates declined slightly last week. Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 14% lower than the same week one year ago. Despite a slight decline, mortgage rates are significantly higher than they were at the start of this year. This as the average contract interest rate for 30-year...
Mortgage demand slipped to the lowest level since December 2018, even after rates declined slightly last week. Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 14% lower than the same week one year ago. Despite a slight decline, mortgage rates are significantly higher than they were at the start of this year. This as the average contract interest rate for 30-year...
CNBC's Diana Olick joins 'Squawk Box' to break down the latest mortgage application data from the Mortgage Bankers Association.
CNBC's Diana Olick joins 'Squawk Box' to break down the latest mortgage application data from the Mortgage Bankers Association.
U.S. mortgage applications slid for a sixth straight week as mortgage rates climbed to a 12-year high, weighing on both home purchases and refinancing.
U.S. mortgage applications slid for a sixth straight week as mortgage rates climbed to a 12-year high, weighing on both home purchases and refinancing.
Sharply rising mortgage rates caused mortgage demand to plunge and pushed more borrowers to riskier, adjustable-rate loans.
Sharply rising mortgage rates caused mortgage demand to plunge and pushed more borrowers to riskier, adjustable-rate loans.
The numbers: A surge in mortgage rates to 6% is giving home shoppers chills, pushing them to wait to refinance or buy a home. With rates doubling from where they were a year ago, demand from buyers continues to weaken, as reflected in the Market Composite Index, a measure of mortgage application volume. The index is now at its lowest level since December 1999, the Mortgage Bankers Association (MBA) said on Wednesday. The market index fell 1.2% to 255 in the week ending September 9. A year ago, t...
The numbers: A surge in mortgage rates to 6% is giving home shoppers chills, pushing them to wait to refinance or buy a home. With rates doubling from where they were a year ago, demand from buyers continues to weaken, as reflected in the Market Composite Index, a measure of mortgage application volume. The index is now at its lowest level since December 1999, the Mortgage Bankers Association (MBA) said on Wednesday. The market index fell 1.2% to 255 in the week ending September 9. A year ago, t...
Fixed mortgage rates are back on the rise after Canadian bond yields surged to a 13-year high on Wednesday. The Government of Canada 5-year bond yield, which leads fixed mortgage rates, has been on a tear, surpassing the 3.20% threshold this weekβa level not seen since 2008. It has now risen over 60 basis points in under two weeks, closing higher each day since May 27. Fixed rates headed to 5% Given that fixed mortgage rates almost always follow bond yield movements, a new leg-up for fixed r...
Fixed mortgage rates are back on the rise after Canadian bond yields surged to a 13-year high on Wednesday. The Government of Canada 5-year bond yield, which leads fixed mortgage rates, has been on a tear, surpassing the 3.20% threshold this weekβa level not seen since 2008. It has now risen over 60 basis points in under two weeks, closing higher each day since May 27. Fixed rates headed to 5% Given that fixed mortgage rates almost always follow bond yield movements, a new leg-up for fixed r...