Mortgage demand takes a massive hit as interest rates cross back over 7%

by anastasiakaufman-chime-me

PUBLISHED WED, FEB 21 20247:00 AM EST

By: Diana Olick

New houses are seen for sale at Woodland Village, built by Lifestyle Homes housing developer, in Cold Springs, Nevada, on June 28, 2023. 
New houses are seen for sale at Woodland Village, built by Lifestyle Homes housing developer, in Cold Springs, Nevada, on June 28, 2023. Andri Tambunan | AFP | Getty Images

Mortgage interest rates surged last week to the highest level since early December, and that hit mortgage demand hard. Total application volume plunged 10.6% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.LEARN MORE…

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