Loan applications have dropped to lows not seen since the '90s.
Share on linkedin The rate on the 30-year mortgage is soaring — hitting 7.53%, the highest rate since December 2000, according to Mortgage Bankers Association data out Wednesday morning.
"The rapid rise in rates pushed an increasing number of potential homebuyers out of the market," MBA's deputy chief economist said in a release. Mortgage applications for home purchases are at the lowest level since 1995.Share on linkedin
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