the Mortgage Bankers Association
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Related Articles from SNS
Mortgage rates are easing slightly, but homebuyers are retreating
Mortgage rates finally eased a bit last week, but it was not enough to light a fire under demand. Total mortgage application volume dropped 2.5% compared with the previous week according to the Mortgage Bankers Association's seasonally adjusted index. The week's results include an additional adjustment for the Memorial Day holiday.
Higher mortgage rates don't just keep buyers on the sidelines. Application denials rise too
Higher interest rates do more than just deter potential homebuyers — they may also block consumers from qualifying for a mortgage, according to new research. The rate of denials in loan applications was 15.1% in 2024, up from 12.2% in 2021, a rise that occurred alongside a surge in mortgage rates from below 3.5% to more than 6.5%, researchers at the Federal Reserve Bank of St. Louis said in a new blog post. At the same time, however, fewer consumers were applying for mortgages as rates...