Homebuyers are applying for ever bigger mortgages as home prices soar
Sky-high home prices mean demand for ever bigger mortgages, but those prices may also be causing a pullback in homebuying overall.
Mortgage applications to purchase a home fell 4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was just 2% higher than the same week one year ago, when the housing market was just starting to come back after the pandemic shut it down.
Original Article Source Credits: CNBC, https://www.cnbc.com
Article Written By: Diana Olick
Original Article Posted on: MAY 19 2021
Link to Original Article: https://www.cnbc.com/2021/05/19/homebuyers-are-applying-for-ever-bigger-mortgages-as-home-prices-soar.html
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