Mortgage Applications at 25 year low! October 6, 2022

According to the Mortgage Bankers Association, total mortgage applications for last week hit a 25 year low.  High Interest rates, high prices, inflation concerns, lower consumer confidence all played a part in fewer people applying for home loans.  Also adding to the low number was the hurricane in Florida.  Obviously fewer people in Florida are buying homes if they are in the path of the destruction.