Mortgage applications nosedive as rates continue to soar
Housing Wire
APRIL 20, 2022
With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. The drop was largely driven by an 8% decline in refinancing applications, which was 68% lower than the same week one year ago. The seasonally adjusted purchase index dropped 3% from the week prior, according to the trade group.
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