Purchase lock counts drop to 9-year low as Fed signals more rate hikes
Housing Wire
JANUARY 8, 2023
The Federal Reserve ‘s signals indicating further rate hikes for 2023 appear to have scared buyers away from the market in December. Last month tallied the fewest purchase lock counts in a single month since early 2014 as interest rates and affordability pressures challenged the market. . Mortgage origination activity dropped 19.4% from November to December, marking nine consecutive months of declines.
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