Fast-rising interest rates are taking their toll on mortgage demand, as both potential homebuyers and current homeowners head to the sidelines. Total #mortgage application volume dropped 4.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Read more at the #linkinbio or the link on screen.
1:02
Fast-rising interest rates are taking their toll on mortgage demand, as both potential homebuyers and current homeowners head to the sidelines. Total #mortgage application volume dropped 4.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Read more at the #linkinbio or the link on screen.
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The average rate on a 30-year mortgage is back above 7% for the first time in twenty months. It’s rough news for the housing market and homebuyers already struggling with rising prices elsewhere. It comes as Treasury yields, which impact borrowing costs across the economy, hit multi-decade highs. Amna Nawaz discussed more with David Wessell of the Hutchins Center on Fiscal and Monetary Policy. #pbsnews #pbsnewshour #mortgage #housing #pbs
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My mortgage is going up by nearly £500 a month in January 😭 so I’m preparing NOW. 1. Putting the difference away now so we get used to living without it 2. Going through our spending and seeing where we can make some actual savings 3. Looking at ways to make more money because respectfully… I cannot budget my way out of everything 😂 If you’ve got a big increase coming, don’t wait until the new payment hits to figure it out 👀 - #budgeting #savingmoney #mortgagetips #costofliving #personalfinan
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