Mortgage applications fell for the first time in three weeks despite interest rates falling below 6.5 percent, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 25.
The Federal Housing Finance Agency on Tuesday increased the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac for one-unit properties to $726,200, an increase of 12.21 percent ($79,000) from $647,200 in 2022.
Reports from S&P Down Jones Indices, New York, and the Federal Housing Finance Agency show continued flattening of home prices nationwide, although they remain elevated in most markets.
Strong industrial market demand will likely continue, though not at the record pace set in 2021, said CBRE, Dallas.
M&T Realty Capital Corp., Baltimore, recently closed multiple deals in New York totaling $33.6 million.