Mortgage demand slumps 13% as home-loan rates turned higher at the end of a tough 2022 for the housing market

Jan 4 2023 by Business Insider

 

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Weekly mortgage applications fell to their lowest since 1996 as a brutal 2022 for the housing market came to a close.  The Mortgage Bankers Association also said refinancing activity fell 16.3% at the end of December. The 30-year fixed rate mortgage showed signs of reheating as it climbed to 6.58%. 

Mortgage demand in the US rounded out a rough 2022 with a double-digit weekly slump as borrowing rates for homes proceeded to re-accelerate, Mortgage Bankers Association said...

Continue Reading Mortgage demand slumps 13% as home-loan rates turned higher at the end of a tough 2022 for the housing market