Mortgage Rates Impacting Home Sales
Mortgage rates moved demonstrably higher last week
- |
- Written by Banking Exchange staff
Mortgage rates moved demonstrably higher last week with mortgage applications dropping by more than 5% as a result according to the Mortgage Bankers Association.
The 30-year fixed rate for conforming loans rose to close to 7%, getting close to last year’s high interest rates.
Consumers are concerned about inflation and personal debt.
The residential real estate market will likely be impacted as the United States enters into the summer season.
Tagged under Mortgage Credit; Feature; Mortgage; Mortgage Compliance; Mortgage/CRE; Feature3; Residential; Commercial;
Related items
- Banking Circle S.A. and Visa Direct Partner to Enhance Global Payment Capabilities
- Report Finds Credit Card Competition Act Would Harm Community Banks
- Capital One to Pay $425m Over False Savings Account Interest Claims
- Survey Shows Consumer Spending Will Decrease
- OCC and CFPB Withdraw List of Regulations
