General World News

Mortgage demand fell again last week

Mortgage demand remained subdued for the second consecutive week despite slightly lower mortgage rates.

Mortgage applications decreased by 0.7% on a seasonally adjusted basis during the week ending March 22, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. 

“Purchase applications were essentially unchanged, as homebuyers continue to hold out for lower mortgage rates and for more listings to hit the market,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “Lower rates should help to free up additional inventory as the lock-in effect is reduced, but we details ⇒

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