The Impact Higher Mortgage Rates Are Having on the Market
Doug Duncan, chief economist for Fannie Mae, joins CNBC’s “The Exchange” to discuss if the recent rise in mortgage rates and the impact for the home buying and refinancing markets.
Mortgage application volume posted a double-digit decline during the last week of 2022 as interest rates climbed toward 7% after falling two weeks prior
Homebuyers have faced a number of obstacles on the path to homeownership since the start of the pandemic, and as mortgage rates continue to reach new highs, market sentiment is falling