Mortgage demand on the US Housing Market continues to plummet. With data from the Mortgage Bankers Association reporting that mortgage applications to buy a house are down 15% YoY. And are now resting at their lowest level since 1995.
This is making life very difficult for realtors and mortgage brokers. Who rely on mortgage issuance to drive home sales and fees. Big real estate companies such as Zillow and Redfin are also struggling due this lower home sale and mortgage origination environment.
Which makes sense. Mortgage rates are now over 7% again. And home prices are still resting at near their highest level on record. So homebuyers are priced out of the market. --- JOIN as a CHANNEL MEMBER ($5/Month): https://www.youtube.com/channel/UCVTQunGrE3p7Oq8Owao5y_Q/join
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