According to seasonally adjusted statistics from the Mortgage Bankers Association’s survey for the week ending September 30, mortgage applications decreased 14.2 percent from the preceding week.
Which is the lowest rate of mortgage applications since 1997/
According to analysts, prices won’t drop very far because of the lack of housing inventory across the country.
Since the 1980s, new development has been declining, and according to a recent estimate by Realtor.com, the United States is short of more than 5 million homes.
