Mortgage Applications Sink to Pre-Pandemic Levels: Why this Might Be Good for Buyers

Fox Business, July 8, 2021–Erika Giovanetti
The findings from the Mortgage Bankers Association’s (MBA) weekly survey come as mortgage interest rates are historically low, but limited housing inventory and high home values make it difficult to purchase a home. As homebuying demand falls, though, it might signal a shift to a cooler housing market that’s more friendly to buyers.