Business & Finance
CNBC reports purchase mortgage applications down 19% from a year earlier
CNBC reports that total mortgage applications fell 4.1% last week, while Mortgage News Daily put Tuesday’s average 30-year fixed rate at 7.22%.
The short version
- Home purchase mortgage applications fell 1% last week and were 19% below a year earlier, according to CNBC.[CNBC]
- The Mortgage Bankers Association’s seasonally adjusted application index declined 4.1% last week, CNBC reports. The figures also included a Labor Day adjustment.[CNBC]
- Mortgage News Daily’s separate survey put Tuesday’s average 30-year fixed mortgage rate at 7.22%, according to CNBC.[CNBC]
Key facts
- CNBC reports that purchase mortgage applications declined 1% for the week and 19% from the same week a year earlier.[CNBC]
- The MBA’s seasonally adjusted mortgage application index fell 4.1% last week, with a separate Labor Day adjustment included, according to CNBC.[CNBC]
- Mortgage News Daily reported an average 30-year fixed mortgage rate of 7.22% on Tuesday, according to CNBC.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higherCNBC
- Struggling US home buyers, and market, face new hurdles as mortgage rates near 7%ABC News - Business
- Soaring mortgage rates and high prices are putting homeownership further out of reachNBC News - Top Stories
- Mortgage rates are nearing 7%. One house hunter says he's "despondent."CBS News - US
- Ever wonder how the Fed's interest rate actually works? We've got answersNPR - Top News