Weekly Mortgage Demand Tanks 17%, After Interest Rates Hit the Highest Level Since August

CNBC, Oct. 16, 2024-Diana Olick
Mortgage interest rates rose last week for the third straight week, hitting the highest level since August. That caused demand from both current homeowners and potential homebuyers to take a big step back. Total mortgage application volume fell 17% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
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