Mortgage demand drops as bank failures hit jumbo loan rates

by anastasiakaufman-chime-me

PUBLISHED WED, MAY 3 20237:00 AM EDT

Homes in Centreville, Maryland, US, on Tuesday, April 4, 2023. The Mortgage Bankers Association is scheduled to release mortgage applications figures on April 5. Photographer: Nathan Howard/Bloomberg via Getty Images — Homes in Centreville, Maryland, US, on Tuesday, April 4, 2023. Nathan Howard | Bloomberg | Getty Images

Mortgage demand from homebuyers has been erratic to say the least during the usually busy spring housing market. That is likely because today’s buyers are hypersensitive to mortgage rates, which have been fluctuating widely week to week but which are still considerably higher than they were a year ago. Now, several bank failures are starting to make it more difficult even for wealthier buyers…Continue Reading

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