Mortgage Demand Hits Lowest Level Since July

Mortgage Demand Hits Lowest Level Since July Amid Higher Rates
Key Takeaways A near 7% drop in mortgage application volume sent demand to its lowest levels since July.Mortgage rates remained unchanged this week but are still higher than the lows seen in September.
Mortgage rates stay high, sapping home-buying demand
Applications for mortgages fell to the lowest level in three months as high rates weighed on home buyers. Activity as measured by the market composite index — a measure of mortgage application volume — was down in the past week,
US Mortgage Activity Gauges Drop to Lowest Levels Since August
US mortgage applications for both home purchases and refinancing dropped last week to the lowest levels since August, hobbled by a recent surge in mortgage rates.
Lower Mortgage Rate, But Higher Offer: Buying a House Is Still Hard
Even though mortgage rates have softened since last year, homebuyers are still paying over asking price to secure their dream home, which means the savings are null.
Mortgage activity tumbles to lowest level since August
The contract rate on a 30-year fixed mortgage held at 6.52%. A month ago, the rate stood at a two-year low of 6.13%.
Mortgage demand drops to its lowest level since July, as interest rates return to summer highs
Refinance demand dropped 8% last week compared with the previous week. Applications for a mortgage to purchase a home fell 5% for the week. Mortgage demand moved lower again last week, even though mortgage interest rates didn't move.
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