Demand for mortgage loans declined last week as mortgage rates reached their highest level since 2008, crossing the 6% threshold.
The market composite index, a measure of mortgage loan application volume by the Mortgage Bankers Association, fell 1.2% for the week ending Sep. 9, compared to the previous week. It was also down 64% compared to the same week in 2021.
The refinance index had a 4.2% decline from the previous week and fell 83% from the same week in 2021. Meanwhile, according to the MBA, the purchase index was down 0.15% from the previous week and decreased 28% from the details ⇒
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