Mortgage Applications Fall for Fifth Week in a Row as Rates Climb

Maurie Backman, The Motley Fool
·4-min read
Mortgage Applications Fall for Fifth Week in a Row as Rates Climb

There was a point in 2020 -- especially during the latter part of the year -- when mortgage lenders struggled to keep up with buyer demand. In fact, last week, mortgage applications decreased for the fifth straight week in a row, reports the Mortgage Bankers Association. All told, applications were down 5.1%, and rising interest rates could largely be to blame.