Mortgage Applications Drop 1.2% on Highest Rates Since June

CNBC, Nov. 2, 2016–Olick, Diana

The refrain is becoming familiar: Mortgage rates rise and borrowers retreat. “Globally, rates have begun to creep upwards as investors anticipate less aggressive monetary policies from central banks, and U.S. rates are being pushed upwards in response,” said Mortgage Bankers Association Chief Economist Michael Fratantoni.