Mortgage applications plunge as rates approach 7%
MBA survey shows purchase applications were nearly 20% lower than a year ago last week The post Mortgage applications plunge as rates approach 7% appeared first on Scotsman Guide .
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Scotsman Guide reports that mortgage applications have dropped sharply as rates climb toward 7%, with the Mortgage Bankers Association finding purchase applications down roughly 20% from a year ago. Higher rates have cooled demand across the conventional market, pushing many would-be buyers to the sidelines and tightening conditions for traditional borrowers who qualify through personal income and standard documentation.
For investors and self-employed borrowers, this environment changes the calculation rather than ending it. loantrust.ai works in the space where conventional paths narrow, offering DSCR loans that qualify on property cash flow, bank-statement programs for borrowers without traditional W-2 income, and bridge, fix-and-flip, and new-construction financing designed for investment strategy rather than owner-occupancy. One licensed MLO packages each file personally, which means the structure of the loan is built around the specific deal instead of routed through a call-center queue.
What matters now is that financing remains available for borrowers who fit outside the standard box, and that the terms are assembled by someone who understands how rental income, renovation timelines, or property-level cash flow affect the structure of the loan. In a market where conventional volume is shrinking, that specificity becomes the difference between a stalled project and one that moves forward.
Source: Scotsman Guide, “Mortgage applications plunge as rates approach 7%”. Read the original →
About loantrust.ai — Whether you're buying your first home, refinancing, or funding your next investment deal, you deserve a straight answer from a real loan officer — not a call center. loantrust.ai is the Atlanta-based mortgage brokerage where one licensed MLO personally packages every loan: conventional, FHA, VA, refinance, DSCR, fix & flip, bridge, new construction, multifamily, and bank-statement programs. Get a written quote you can compare against any lender — in about two minutes: compare your options
Hans Michel, Mortgage Loan Originator, NMLS #2857209 · LoanTrust is a dba of RentAssure Inc. · Licensed in Georgia · NMLSConsumerAccess.org · Equal Housing Opportunity. Nothing on this site is a commitment to lend — all loans subject to underwriting and approval. DSCR, fix & flip, bridge, new construction, multifamily, and bank-statement programs are business-purpose loans for investment properties only.