Weekly mortgage demand drops as buyers struggle to find affordable homes

by anastasiakaufman-chime-me

PUBLISHED WED, JAN 31 20247:00 AM ESTUPDATED 3 HOURS AGO

By: Diana Olick

Prospective home buyers look from the balcony of a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe Biden struggles to tackle negative sentiment about his handling of the economy, as he campaigns for re-election. (Photo by ROBERTO SCHMIDT / AFP) (Photo
Prospective home buyers look from the balcony of a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Roberto Schmidt | AFP | Getty Images

After rising for several weeks, mortgage demand fell last week as buyers faced increased competition for a limited supply of homes.

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