HomeMarketsU.S. Economy & JobsHow Higher Mortgage Rates Impact Housing Market
How Higher Mortgage Rates Impact Housing Market

"The new numbers from the mortgage industry are in, and as expected, they're not good as reported by the MBA. In a nutshell, high mortgage rates continue to wreak havoc on the industry with purchase apps down over 5% and refi's down over 8% week over week along with overall refinance activity down almost 80% from a year ago," says Curtis Wood. He also states that the next 12 to 24 months will be positive for first time home buyers.

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