Mortgage demand is mixed, as interest rates hit highest level since May

by anastasiakaufman-chime-me

Published Wed, Jan 15 20257:00 AM EST

A completed planned development is seen in Ashburn, Virginia on August 14, 2024. US consumer inflation eased slightly in July, according to US Labor Department data published on August 14, 2024,, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The consumer price index (CPI) rose 2.9 percent last month from a year ago, the Labor Department said in a statement, while a measure that strips out volatile food and energy costs cooled

A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024.Andrew Caballero-Reynolds | AFP | Getty Images

Mortgage demand started this year stronger than it did last year, even though interest rates are higher. Total mortgage application volume last week was 7% higher than the same week one year ago, according to the Mortgage Bankers Association’s seasonally adjusted index.LEARN MORE…

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