Market Update: U.S. Mortgage Applications Fall 1.7%

Mortgage applications fell by nearly 2 percent last week as interest rates continued to rise, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Feb. 15.

Quicken Loans Chief Economist Bob Walters offers the following comments on the report:

“This is the second straight week of declines in mortgage applications. While we have seen steady improvement in many housing sectors, the housing market is still waiting for big waves to push homebuyer confidence higher.”

If you would like to talk to Bob in greater detail, please contact us.