Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll

Econ & Housing

A sign of a home for sale is pictured in Alhambra, California on May 4, 2022.Frederic J. Brown | AFP | Getty ImagesMortgage rates actually fell slightly last week, but the damage has already been done to housing affordability. Both refinance and purchase loan demand dropped, pulling total mortgage application volume down 11% for the…

Thanks for reading The LBM Daily.
Join LBM Daily Premium or log in to continue reading.
Login Join Now

Articles You May Like

US Stock Market News: Dow Jones gains 95 points, Nasdaq jumps 110 points as Fed signals slowdown in rate hikes
Stock market live news updates: Stock futures mixed ahead of holiday trading
Fannie Mae expects housing sale rut in 2023
Mortgage demand rises 2.2% as interest rates decline slightly
East Coast Ports Continue to Gain Business Amid Concerns Over West Coast Labor Talks