Mortgage applications hit lowest level since 1996 as soaring rates crush affordability

By Zach Halaschak

Published October 4, 2023 7:08pm ET

Mortgage applications hit lowest level since 1996 as soaring rates crush affordability — FILE - This May 14, 2014 file photo shows a new home for sale in the Winthrop subdivision in Riverview, Fla. The Commerce Department on new home sales in July on Monday, Aug. 25, 2014. (AP Photo/Chris O'Meara, File) | Chris O'Meara

Mortgage applications have fallen to the lowest level in some 27 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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Mortgage applications hit lowest level since 1996 as soaring rates crush affordability

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