Mortgage rates hit highest level since July, crushing application demand

Published Wed, Jan 8 20257:00 AM ESTUpdated 3 Hours Ago

By: Diana Olick

Residential homes in Discovery Bay, California, US, on Thursday, Nov. 7, 2024. Mortgage rates in the US increased to the highest level since July. David Paul Morris | Bloomberg | Getty Images

Mortgage rates last week moved higher for the fourth week in a row. That caused already very weak mortgage demand to drop even further. Total mortgage application volume fell 3.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for the New Year’s holiday.LEARN MORE…

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