Rising interest rates are pushing mortgage applications to four-year lows. The Mortgage Banker Association’s market composite index, a measure of loan application volume, fell 4 percent last week to its lowest point since December 2014, according to Bloomberg. The drop correlates with rise in the contract rate on a 30-year fixed loan from 5.11 percent to 5.15 percent last week. Together with strong pricing for housing around the country and a scarcity of listings, homebuyers […]
source https://therealdeal.com/2018/11/07/mortgage-applications-hit-4-year-low-as-interest-rates-rise/
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