# Mortgage applications down

**URL:** <https://discussion.fool.com/t/mortgage-applications-down/96245>\
**Category:** Macro Economic Trends and Risks\
**Created:** [September 8, 2023, 6:31pm UTC](https://discussion.fool.com/t/mortgage-applications-down/96245 "2023-09-08T18:31:17Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![Divitias](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/divitias/32/9302_2.png) [@Divitias](https://discussion.fool.com/u/Divitias)\
**Post date:** [September 8, 2023, 6:31pm UTC](https://discussion.fool.com/t/mortgage-applications-down/96245/1 "2023-09-08T18:31:17Z")

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Hits a 30 year low

> The Mortgage Bankers Association index of home-purchase applications decreased by 2.1 percent last week, hitting its lowest level since April 1995, Bloomberg reported Wednesday. Bloomberg also noted that contract rates on 30-year fixed mortgages dropped by 10 basis points in the week that ended on Sept. 1, and that the overall measure of mortgage demand dropped by 2.9 percent, hitting an almost 27-year low.

> **[US Home Purchase Applications Fall To Lowest In Almost 30 Years](https://dailycaller.com/2023/09/06/american-home-purchase-application-drop-lowest-since-1995/)**
>
> Mortgage applications across the U.S. plunged to a 28-year low in late August.

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**Author:** ![Leap1](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/leap1/32/72176_2.png) [@Leap1](https://discussion.fool.com/u/Leap1)\
**Post date:** [September 9, 2023, 2:42am UTC](https://discussion.fool.com/t/mortgage-applications-down/96245/2 "2023-09-09T02:42:14Z")

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It is ironic I know a few couples as friends who have bought in the last six weeks.

I kept my mouth shut. The dye had already been cast.

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**Author:** ![38Packard](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/38packard/32/13738_2.png) [@38Packard](https://discussion.fool.com/u/38Packard)\
**Post date:** [September 10, 2023, 12:23pm UTC](https://discussion.fool.com/t/mortgage-applications-down/96245/3 "2023-09-10T12:23:13Z")

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We have a friend in Boston who bought a new place without having any contingency on selling their old place. They closed 2 weeks ago on the new place - still haven’t sold the old place. They’ve reduced the price a couple of times, now $40K less than original asking price. Paying two mortgages, insurance, taxes, etc. Not pretty right now.

'38Packard  
 → Glad I’m not him.

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**Author:** ![TucsonBones](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/tucsonbones/32/2780_2.png) [@TucsonBones](https://discussion.fool.com/u/TucsonBones)\
**Post date:** [September 11, 2023, 11:29pm UTC](https://discussion.fool.com/t/mortgage-applications-down/96245/4 "2023-09-11T23:29:13Z")

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> [@Divitias](#):
>
> Bloomberg also noted that contract rates on 30-year fixed mortgages dropped by 10 basis points in the week that ended on Sept. 1, and that the overall measure of mortgage demand dropped by 2.9 percent, hitting an almost 27-year low.

Who would have saw that coming?