Home Loan has dropped to its lowest level in 22 years, as interest rates rise
The 30-year fixed-rate mortgage average contract interest rate for conforming loan sums of $647,200 or less jumped to 5.40 percent from 5.33 percent. Mortgage applications for house purchases declined 7% for the week and were 21% lower than the same week last year. Refinance demand decreased 6% for the week and was down 75% year … Read more
