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Mortgage Applications Fall 7.7% Week Ending February 10, 2023 – MBA
United States of America – Mortgage applications pull a 360 as applications fell 7.7% the week ending February 10, 2023 resulting in an erasure of the prior weeks 7.4% ladder up.
Mortgage Bankers Association also reported mortgage applications to refinance a home sank 12.5% defining a continued trend in real estate and housing market conditions.
AGGRECOST™ insights stated that total housing inventories data will be important as well as the trend of high interest mortgage rates facing new home buyers and existing home owners seeking to refinance after missing out on historically low interest rates during the pandemic.
In addition eyes will be on building and construction product manufacturing and inventory data in correlation with retail and wholesale building products sales to gain further insights into the health of market segments within home improvement, new home construction, and multi-family construction developments for the 2023 future quarters.