"Surging Demand for Mortgage Refinance Despite Rates Crossing 7%: Experts' Forecasts and Future Expectations"
TL;DR Summary
Mortgage refinance demand surged 10% despite rates crossing back over 7%, as homeowners rushed to lock in savings amid concerns of further rate increases. Meanwhile, applications for home purchases fell 5% as inventory remained low and prices continued to rise. Investors are closely watching the upcoming consumer prices report, which could impact mortgage rates.
Topics:business#consumer-prices#federal-reserve#finance#housing-market#interest-rates#mortgage-refinance
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