Total mortgage application volume increased just 0.5% from one week earlier, according to the Mortgage Bankers Association’s seasonally adjusted index.
The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News Daily.
The average homeowner with a near record-low mortgage rate would see their monthly payment shoot up 132% in order to move up to a 25% more expensive home.
Pacaso lists shares of vacation homes, generally an eighth but sometimes larger shares, and then facilitates the purchase, including financing if necessary.
Recurrent aims to do for electric vehicle batteries what odometers do for fuel-powered cars: show the wear and tear on the battery and its future value.