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2026-09-16 19:52:09
[US Mortgage Rates Approach 7%, Applications Plunge to Lowest Point] ⑴ US mortgage costs continue to rise, with the 30-year standard mortgage rate approaching the 7% mark and larger mortgage rates exceeding 7%. ⑵ As a result, US mortgage applications fell by about 4% last week, reaching the lowest level since May of last year. ⑶ Refinancing applications shrank significantly by nearly 9%, indicating a marked weakening incentive for existing homeowners to replace their loans in a high-interest-rate environment. ⑷ Market interest rates are still climbing, and mortgage costs may rise further, which will continue to suppress housing demand and refinancing activity. ⑸ The transmission effect of interest rate trends on the US housing market and its potential drag on overall consumption and investment sentiment need to be monitored.
