Rising interest rates have led to a drop in mortgage demand.

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Mortgage Rates On Rise Again Prompting Demand Drop

Well in an updated look at the housing market, rising interest rates leading to a drop in mortgage demand total volume for mortgage applications down more than seven and a half% 76 from the same time a year ago, mortgage rates have been falling for five consecutive weeks, leading to an uptick in demand. But now rates are on the rise again in the average, for a 30 year fixed rate, up to nearly 6.4%. That is a bit higher from the 6.2% that we saw in the previous week.