Mortgage demand falls 9% despite rates falling for fourth week in a row
The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Despite mortgage rates dropping for the fourth consecutive week, mortgage demand fell 9% in the latest week. Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure […]
US 30-year fixed mortgage rate could break 6%
The US housing market has rapidly stalled as mortgage rates surged but there’s a sliver of help on the way. Late yesterday, Mortgage News Daily reported that US 30-year fixed rates are down to 6.07%, which is the lowest since September. Give the falling long-end yields in the past two days, we should be seeing […]