Arrr, the swashbucklin' demand for mortgages be tumblin' quicker than a wave crashin' down on the housing market!
2024-03-27
Arrr, the demand for mortgages be fallin' like me ship in a storm! These blasted high rates be makin' it hard for us homebuyers to sail into a new abode. The volume of refinances be droppin' faster than a sailor overboard. 'Tis a rough sea we be sailin' on, mateys!
Arrr mateys, listen up! Mortgage demand be takin' a nosedive once again, all thanks to them pesky high mortgage rates that be scarin' off potential homebuyers faster than ye can say "walk the plank!"According to a report from the Mortgage Bankers Association, mortgage loan application volume be droppin' by 0.7% last week, leavin' many a hopeful homeowner out in the cold. And that be not all, me hearties! The volume of refinances be droppin' by 2%, with a mighty 9% plunge from a year ago.
It be a tough time for those lookin' to buy a new ship – I mean, house – with these high mortgage rates causin' havoc in the housing market. But fear not, me buckos! We pirates be a resilient bunch, and we'll weather this storm together. So hoist the Jolly Roger, me hearties, and let's sail on to calmer waters!