Mortgage Rates Dip As Market Pressure Mounts Amid Russian Invasion Of Ukraine

and mortgage rates already rising this year, there are indications consumers are pulling back from applying for a mortgage or refinance.

Mortgage applications fell 13.1% for the week ending February 23 compared to the previous week—their lowest level since December 2019, according to the Mortgage Bankers Association . Similarly, applications to refinance were down 16% from the previous week and less than half the levels from a year ago.

“In a hyper-competitive market, I think that even small changes in interest rates will significantly impact the purchase power of buyers who have struggled to be qualified,” she says.

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Signs of stress are emerging across the U.S. rates market, exacerbated by Russia-Ukraine crisisThe stress is reflected in a variety of measures --- all of which "indicate a more impaired market,'' Goldman Sachs strategists write. Rate my boobs😘😘😘 It’s not just a crisis, it’s a slaughter of the Ukrainian people by Putin! Why is he not being prosecuted for war crimes?
Source: MarketWatch - 🏆 3. / 97 Read more »