Purchase Applications Plunge 18 Percent as High Rates Stifle Housing Activity

By Julie Gerstein · Realtor.com · 2026-10-21

Purchase Applications Plunge 18 Percent as High Rates Stifle Housing Activity

According to reporting from Realtor.com, mortgage demand for single-family home purchases has hit a significant slump, dropping 7% in a single week. Elevated inflation and geopolitical instability are keeping borrowing costs high, forcing many prospective buyers to abandon their

According to reporting from Realtor.com, mortgage demand for single-family home purchases has hit a significant slump, dropping 7% in a single week. Elevated inflation and geopolitical instability are keeping borrowing costs high, forcing many prospective buyers to abandon their