Stubbornly high interest rates and decreased housing inventory are contributing to the slide. It’s more of the same for the U.S. housing market as weekly mortgage applications are in retreat, mostly due to high home prices and robust interest rates.That’s the call from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 21, 2023.The survey found that Market Composite Index, which tracks U.S. mortgage loan application volume, slid by 1.8% from the
These are today's mortgage and refinance rates. Rates have been volatile in recent weeks and are relatively high, but they may start coming down later in 2023.