US mortgage rates surge to 7.49%, cooling housing market
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- 1The Mortgage Bankers Association announced that the weekly average for 30-year fixed-rate mortgages ended at 7.49% for the week ending October 2.
- 2With 10-year Treasury yields hitting 5.34% last week, mortgage applications fell 4.2% over the same period.
- 3The total volume of mortgage applications has plummeted nearly 50% since January.
So what's the key point?
The Mortgage Bankers Association announced that the weekly average for 30-year fixed-rate mortgages ended at 7.49% for the week ending October 2.
Source Bloomberg +4 · View original ↗
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