General World News

Mortgage demand tumbles again as rates hit 7.27%

The last time mortgage demand was this low, Toni Braxton’s “Un-break my heart” topped the Billboard charts.

For the week that ended Sept. 8, mortgage applications fell 0.8% from the prior week, according to data from the Mortgage Bankers Association. Mortgage applications decreased for the seventh time in eight weeks, down to the lowest levels since December 1996.

Last week, refinance applications recorded a 5% drop. It was the weakest reading for refinance applications since January 2023. Simultaneously, purchase applications increased over the week despite the increase details ⇒

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