Real Estate

Sharp drop in mortgage rates does little to boost demand

0


A home for sale in the Mission Hills area of Los Angeles Tuesday, Oct. 11, 2022 in Mission Hills, CA.

Brian Van Der Brug | Los Angeles Times | Getty Images

Mortgage application volume rose 2.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for the Veteran’s Day holiday.

The small increase followed a government report last week showing that inflation may be starting to ease. That, in turn, sent bond yields plunging and mortgage rates with them. Thursday saw the sharpest one-day drop in the average rate on the 30-year fixed mortgage since daily record-keeping began in 2009.

On a weekly…



Source cnbc.com

0 0 votes
Article Rating

Which states have had the most major climate disasters since 2011?

Previous article

Nvidia (NVDA) earnings Q3 2023

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate