Mortgage Applications to Buy a Home Fall 18% from Last Year

Mortgage applications to buy a home fell 18% year over year this week, as the housing market continues to be rocked by inflation, high interest rates, and elevated oil prices due to the ongoing war with Iran.

For the week ending Oct. 9, the Mortgage Bankers Association’s Market Composite Index—a measure of total mortgage loan application volume—fell 5.3% on a seasonally adjusted basis…