General World News

Mortgage demand declines amid persistently high inflation 

Expectations that high inflation may persist for longer than previously projected put pressure on mortgage rates last week. In turn, it affected borrowers’ appetite for home loans. 

The latest Mortgage Bankers Association (MBA) survey showed that mortgage loan application volume declined 7.7% for the week ending Feb. 10 from the previous week. Compared to the same week last year, mortgage apps are down 57%. 

“Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the details ⇒

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