Home purchase mortgage applications were 19% lower than the same week in July last year, and 6% lower than the prior week. Those numbers are a direct reflection of the impact inflation is having on our economy.
In an article on CNBC, written by Diana Olick “Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index.” Later in the article she states “Demand for refinances, which are highly rate sensitive, fell 4% for the week and were 80% lower than the same week last year.”
Read the full article here:
Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
During home buying, selling, and ownership there are times when you need to have documents notarized. The team at Notary Near You makes this process as easy as possible with our mobile notary service. We come to you where ever you are, and at a time that works in your calendar!
Have questions about how our mobile notary service works? Please contact Notary Near You at 877-395-2650 or visit our website NotaryNearYou.com and we will gladly answer any questions you may have.