Mortgage Demand Plunges, Spread Between Mortgage Rate And 10-Year Treasury Yield Blows Out

Oct. 06, 2022 11:27 AM ETITB, XHB, NAIL, HOMZ, PKB, IYR, REZ, REM, RWR, VNQ, ICF, FRI, PSR, JRE, KBWY, SCHH, ROOF, MORT, REET, FREL, SRET, EWRE, XLRE, USRT, NURE, PPTY, SRVR, INDS, BBRE, NETL, RDOG, IVRA, REIT, FPRO, LMBS, VMBS, SPMB, JMBS, MBB, VABS, DEED5 Comments
Wolf Richter profile picture
Wolf Richter
4.19K Followers

Summary

  • In the week ended September 30, demand for mortgages to purchase a home plunged by 13%, seasonally adjusted, from the already beaten-down levels in the prior week, according to the Mortgage Bankers Association on Wednesday.
  • The weekly drop was in part caused by Hurricane Ian and in part by the spike in mortgage rates into the 7% range.
  • The average 15-year mortgage – if you can handle the payment at the current prices – spiked by 52 basis points from the prior week to 5.96%, the highest since October 2008, according to Freddie Mac data.

Real estate Business Trends Graphs and charts

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In the week ended September 30, demand for mortgages to purchase a home plunged by 13%, seasonally adjusted, from the already beaten-down levels in the prior week, according to the Mortgage Bankers Association on Wednesday. Compared to the same week last year, purchase mortgage applications

Housing bubble

Housing bubble

Housing bubble

Housing bubble

Housing bubble

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Wolf Richter profile picture
4.19K Followers
Wolf Richter is the publisher of wolfstreet.com, a site focused on business, finance, and money. The site is free. In addition to the many years at wolfstreet.com and its predecessor site, he has 20 years of C-level operations and finance experience.

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