Home purchase mortgage applications were down 10% from a year ago and up 1% for the week, according to the MBA.
Along with higher mortgage rates, homebuyers also contend with record low supply and lofty prices.
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Higher mortgage rates seem to have hit mortgage demand as refinance applications for the week ending March 25 were down 60% from a year ago and 15% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. So reports CNBC.
Home purchase mortgage applications were down 10% from a year ago and up 1% for the week, according to the MBA.
Along with higher mortgage rates, homebuyers also contend with record low supply and lofty prices.