Mortgage demand from homebuyers drops to a 28-year low as interest rates soar
PUBLISHED WED, AUG 23 20237:00 AM EDTUPDATED 4 HOURS AGO
By: Diana Olick
Mortgage rates jumped last week to the highest level in 23 years, pushing mortgage demand from homebuyers to the lowest level in 28 years.
Total mortgage application volume fell 4.2% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
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