
MBA: Mortgage Applications at Slowest Pace Since 1997
Mortgage application activity last week slowed to a pace not seen in 25 years as mortgage rates continued to rise, according to the Mortgage Bankers Association.
Mortgage application activity last week slowed to a pace not seen in 25 years as mortgage rates continued to rise, according to the Mortgage Bankers Association.
The pandemic hit the mortgage sector – like most businesses and industries – with a series of unknowns: Can the industry operate remotely and still comply with regulations? Will credit standards tighten? Will there be any purchase activity?