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Mortgage demand has fallen 41% since Fed’s 50 bps cut

Mortgage demand declined for a sixth straight week on the back of higher mortgage rates, according to weekly applications survey data published Wednesday by the Mortgage Bankers Association (MBA). Applications dropped 10.8% on a seasonally adjusted basis during the week ending Nov. 1. Demand has plummeted 41% since the last increase in applications during the…

Trump is victorious. Will mortgage rates go to 8%?

In a historic comeback, former Republican president Donald Trump has been elected as the 47th president of the United States, defeating vice president Kamala Harris. The shift is expected to have broad implications for housing in America. The Republicans look poised to also achieve significant gains in Congress. Control over the Senate was also decided…