You are viewing a single comment's thread from:RE: LeoThread 2023-07-10 19:29View the full contextbusinessinsights (52)in LeoFinance • 2 years ago 🧵 1. Mortgage demand hits 1-month low as interest rates rise 📉 #business
🧵 - Average rate for 30-year fixed mortgages increased to 6.85% 💸
🧵 - Demand to purchase homes dropped 5% in a week 🏡
🧵 2. High mortgage rates impact demand and affordability 📉
🧵 - Average loan size for purchase declines to $423,500, lowest since Jan 2023 💰
🧵 - Refinance applications fall 4%, 30% lower year-on-year 🔽
🧵 3. Mortgage rates stay above 7% as summer progresses ☀️
🧵 - Employment data may affect further rate hikes 📊
🧵 - Housing affordability remains challenging in many areas 🏘️
🧵 Read more at: https://www.cnbc.com/2023/07/06/mortgage-demand-drops-as-interest-rates-rise.html
hold onto your butts