Mortgage demand hits lowest level in nearly three decades

By Zach Halaschak

Published August 23, 2023 5:41pm ET

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Mortgage demand hits lowest level in nearly three decades — FILE - In this Wednesday, Aug. 14, 2013, file photo, a home is for sale in San Diego. Private data provider CoreLogic reports on home prices for August on Tuesday, Oct. 1, 2013. (AP Photo/Gregory Bull, File) | Gregory Bull

Mortgage demand has fallen to the lowest level in 28 years as homebuyers shy away from rising mortgage rates that have hit highs not seen since the turn of the century.

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Federal Reserve Housing Interest Rates mortgages Real Estate