Reported about 1 month ago
Mortgage rates have increased for the third consecutive week, with the average 30-year fixed-rate mortgage reaching 6.44%, the highest since August. This rise has led to a decrease in refinancing applications by 26% and a 7% drop in home purchase applications week-over-week, as cautious buyers react to the changing economic landscape. Despite being lower than a year ago, potential buyers are hesitant to proceed with transactions.
Source: YAHOO