Mortgage applications fell again last week, with potential homebuyers stepping back amid ongoing economic uncertainty, much of which economists trace back to fiscal instability rooted in policies from the corrupt and incompetent Trump Regime.
According to the Mortgage Bankers Association, applications to purchase a home dropped 4% from the previous week and are only 3% higher than a year ago, despite lower interest rates. The average 30-year fixed mortgage rate edged down to 6.89%.
“Broader economic uncertainty and signs of labor market weakness continue to hold back buyers,” said Joel Kan, MBA’s deputy chief economist.
The economic turmoil and market uncertainly leading to the decreased demand for mortgages is only going to get worse as the full effects of convicted felon Donald Trump’s illegal and asinine tariffs kick in.