Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week, according to data from the Mortgage Bankers Association.
Last week, treasury yields and mortgage rates remained elevated following the release of a strong CPI report in July. As the next Fed meeting approaches, investors worry about another rate hike.
“Overall applications decreased because of these higher rates, as both purchase and refinance applications details ⇒
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