Mortgage rates rose last week, causing loan demand to drop back and causing the average loan size to rise -- indicating that lower income borrowers dropped out.
source https://www.cnbc.com/2026/05/06/mortgage-rates-hit-the-highest-level-in-a-month-causing-lower-income-homebuyers-to-drop-out.html
Mortgage rates hit the highest level in a month, causing lower income homebuyers to drop out
May 06, 2026
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Mortgage rates hit the highest level in a month, causing lower income homebuyers to drop out
Housing Market