My New Channel:
TOPICS AND TIMESTAMPS:
Prices Too High? 0:00
Real Estate Drop 0:10
Gas Supply Reduction 7:34
China and Russia Partners 10:36
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
Surging inflation and interest rates are hammering American consumers and weighing on the housing market.
Mortgage demand fell last week, hitting the lowest point since 2000, according to the Mortgage Bankers Association.
Buyers have lost considerable purchasing power as rates have almost doubled since earlier this year.
The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers.
Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index.
Applications for a mortgage to purchase a home dropped 7% for the week and were 19% lower than the same week in 2021. Buyers have been contending with high prices all year, but with rates almost double what they were in January, they’ve lost considerable purchasing power.
💵 HOW TO MAKE MONEY ON AMAZON – FREE eCOURSE: 💵
👉 http://TheAmazonGPS.com 👈
LOOK THROUGH MY BOOKS! http://books.themoneygps.com
MY FAVORITE BOOKS: https://youtu.be/Y_mwbfp1ULU
SUPPORT MY WORK: https://www.patreon.com/themoneygps
Sources Used in This Video:
The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
#recession #inflation #investing
Music Provided by Skip Fearless