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; Lending; Feature3; Residential; Commercial;
Related items
- Revolut Gains Conditional US Banking License
- Billions in Iranian Funds Continue to Flow Through US Banks
- Anthropic Nears Decision on Banks for Potential $2 Trillion IPO
- Why the Banks Growing Fastest Aren't the Ones That Know Their Customers Best
- Banking Exchange to Kick Off Stablecoin Month on October 8
