Tag Archives: consumer demand

As housing affordability and demand continue to worsen for Americans nationwide, the latest ICE Mortgage Monitor Report revealed that purchase-mortgage applications fell nearly 50% below pre-pandemic levels in October, representing the weakest numbers recorded since rates began to rise.

As interest rates rise, demand for both purchase and refinance mortgages begin to wane.

As the nation continues to struggle to keep up with housing demand, more Americans are deciding to ride out the storm and not give into exorbitant prices on limited inventory.