Mortgage Demand Stalls as Rates Hold Near Yearly High
Mortgage applications showed no change last week as borrowing costs remained steady. Interest rates are near their highest level in a year, according to CNBC. The stable rates gave homebuyers and homeowners little incentive to act.
Key facts
- Mortgage applications were flat last week
- Borrowing costs held steady
- Rates remain near their highest level in a year
- CNBC reported the data
- Homebuyers and homeowners had little reason to act
Entities
Institutions
- CNBC
Sources
- Quartz —