Rising mortgage rates caused mortgage applications for home purchase to slip to a fresh 28-year low in September. With mortgage rates edging above 7.5% in the last week of the month as Treasury yields surged (see Chart 1), lending and sales volumes could fall further still in the near term.
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