Mortgage demand dipped as the Fed announced interest rate hike
Potential homebuyers stayed on the sidelines for mortgages amid the Federal Reserve’s announcement of another interest rate hike. The Mortgage Bankers Association (MBA) survey shows that the mortgage composite index for the week ending Nov. 4 declined 0.1% from the previous week. Mortgage loan application volume plummeted 70.3% compared to the same period in 2021. […]