General World News

Mortgage demand sinks for fifth consecutive week

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week, according to data from the Mortgage Bankers Association

This decrease in applications comes on the heels of a drastic U.S. bond yields spike last week. The yields jumped to their highest level since 2008, north of 4.3%. 

“Investors in the bond market were reacting to the government issuing debt while expecting the Federal Reserve details ⇒

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