With Interest Rates Soaring, Weekly Mortgage Demand Nosedives 11% – A Warning Sign For The Real Estate Market?

Описание

According to the Mortgage Bankers Association (MBA), mortgage demand took a sharp dive, with applications plummeting 11% as interest rates hovered above 7%. The MBA's Chief Economist, Mike Fratantoni, remarked that affordability is being squeezed tightly and first-time buyers, particularly, are feeling the heat.