Mortgage demand at its lowest level in about 30 years
. As those high borrowing costs or interest rates still
keep would be buyers out of the market, not
to mention inflation. It's so expensive to buy anything
these days that any money you had saved up for
a house is probably getting used for other purchases like
food and shelter. Well volume for new mortgage applications
in refinancing, falling 6% last week from the week
before demand down significantly from a year ago at its
lowest in 28 years and the drop off Communist mortgage
rates are on the rise, again, staying above
6.5% while most homeowners are locked in at far lower
rates. In fact, the average 30 year fixed
rate a year ago, that was about 4%.