The housing market is cooling down, mortgage data suggests
Experts say buyers shouldn’t expect to find too many bargains
With home prices at record highs and mortgage rates well over 5%, fewer Americans are buying homes – a fact reflected in the most recent mortgage data.
Last week, the Mortgage Bankers Association reported that applications for mortgages fell by 6.5% in just one week. That was followed by a report from property data firm ATTOM showing that residential mortgage origination in the first quarter of this year fell 18% from the fourth quarter of last year.
That’s the largest qu...
