Mortgage demand continue to decline amid surging home loan rates, according to the latest survey from the Mortgage Bankers Association (MBA). 

The mortgage composite index for the week ending Oct. 7 fell 2% from the prior week and 68.7% compared to the same period in 2021, on an adjusted basis, the survey shows. 

The refinance index decreased 1.8% from the previous week and was 86% lower than the same week one year ago. Meanwhile, the seasonally adjusted purchase index declined 2.1% from one week earlier and was down 39% from this time last year.

“The news that job growth and wage growth continued details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com