US mortgage applications for home purchases fell to their lowest mark in 28 years, Mortgage Bankers Association data showed. Wednesday data from the Mortgage Bankers Association showed that mortgage applications for homes fell for the sixth straight week to hit the lowest level since 1995. AdvertisementAdvertisementThe MBA's survey covers 75% of all US retail residential mortgage applications, and it's been conducted every week for over three decades. Today's housing market is even more unaffordable than it was at the peak leading up to the 2008 financial crisis. A separate data release on Tuesday from the National Association of Realtors showed existing home sales decreased 2.2% in July, falling to the lowest level since the start of 2023.

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Persons: omebuyers, Joel Kan, it's, Goldman Sachs Organizations: Mortgage, Association, Service, Atlanta, National Association of Realtors Locations: Wall, Silicon