General World News

Mortgage apps decline 2.3% to the lowest level since 2000

Demand for mortgage loans declined to the lowest level since 2000 last week due to affordability challenges and uncertainties regarding the U.S. economy, according to the Mortgage Bankers Association (MBA). 

The market composite index, a measure of mortgage loan application volume, fell 2.3% for the week ending Aug. 12, compared to the previous week. It was also down 62% compared to the same week in 2021.  

The refinance index had a 5.4% decline from the previous week and fell 82% from the same week in 2021 to its lowest level since November 2000, driven by a 6% details ⇒

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