Skip to main content

Mortgage Applications (Oct. 2023)

After their weakest month in 28 years, there were signs that mortgage applications for home purchase bottomed out at the end of October. Mortgage applications for home purchase dropped 9.1% m/m across October as a whole, leaving mortgage demand at its lowest level since January 1995. This came as little surprise given the sharp rise in mortgage rates from 7.4% in September to 7.8%. Meanwhile, refinancing activity fell 9.2% m/m as extremely high mortgage rates continued to discourage current homeowners from moving.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access