First-Time Buyers Show More Demand for Mortgages, Even as Interest Rates Rise

CNBC, Aug. 24, 2022–Diana Olick
Mortgage demand continues to weaken, still right around a 22-year low, but there was a sign in the weekly numbers that first-time buyers may be slowly returning. Mortgage applications to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.