Mortgage apps plunge as rates jump

That's one takeaway from the latest index of mortgage applications — released by the Mortgage Bankers Association — which recorded the biggest weekly drop in eight years. The index is at its lowest level since 1995.At the beginning of February, the 30-year fixed rate was 6.19%. Since then, it has jumped almost a half percentage point to 6.62%, as of last week, according to the MBA. That's the highest since November.

"Traffic is really good. Web activity is really good. We have continued to create urgency in the sales center because we are dropping incentives. We are raising prices, and the buyers are out," Yearley said.

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Mortgage purchase applications fall to lowest level since 1995Mortgage loan applications last week fell to the lowest level since 1995 as mortgage rates rose, the Mortgage Bankers Association reported Wednesday. Thanks, Joe Biden. Don't go chasin
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Mortgage demand plunges as rates take off and buyers fleeMortgage applications fell 13.3% in the latest week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.62%. 🔥🔥🔥🔥🔥🔥 Thanks to bidenflation… When are those millions of criminal aliens going to live? Are they going to squat in your home if you leave for a vacation? You bet they will.
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