LAS VEGAS (KTNV) — The mortgage market appears to have cooled down a bit.
The Mortgage Bankers Association says the number of mortgage applications and applications to refinance both fell about 5 % last week.
New home applications are also down.
Experts blame the drop on rising interest rates.
Those are about 3% for a 30 year loan.
The Mortgage Bankers Association says it could also be the result of fewer homes on the market.