Mortgage Rates Surge, Spring Housing Market Cools
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Mortgage rates surged to a 14-month high last week, driven by inflation fears due to the ongoing conflict with Iran. Total mortgage applications plummeted, with refinance apps plunging 17% and purchase apps dipping 3%. Despite the busy spring housing season, higher rates are straining affordability. FHA and VA loan users are faring better, but overall, the wars uncertainty is dampening market confidence. Rates briefly dipped this week, but they remain significantly above pre-war levels, causing concern for home shoppers.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/0957aec7af3a4ba1