General World News

Mortgage demand continues to fall amid pressure on rates

Demand for mortgage loans declined last week as the markets continue to exert pressure on rates. With the 30-year fixed-rate hovering above the 6% level again, there’s no sign of a rebound in applications yet, despite a robust job market and growing housing inventory.

The market composite index, a measure of mortgage loan application volume, fell 0.8% for the week ending Sep. 2, compared to the previous week, according to the Mortgage Bankers Association (MBA). It was also down 63.4% compared to the same week in 2021.  

“Mortgage rates moved higher over the course of last week as markets continued to re-assess the details ⇒

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