Demand for Mortgages Falls to Lowest Point in Nearly Three Decades

U.S. Demand For Mortgages Falls To Lowest Level In Nearly Three Decades

A sale sign stands outside a home on the market along Nevada Avenue in the Old North End neighborhood of Colorado Springs, Colo., on June 22, 2023. David Zalubowski/AP Photo

Demand for mortgages in the United States fell nearly 3 percent last week, to the lowest point since 1996, according to a new survey.

The Mortgage Bankers Association’s seasonally adjusted Market Composite Index, published on Sept. 6, saw a 2.9 percent decline in mortgage application volume the week before, compared with the previous week.