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As More Homes Hit The Market, Mortgage Demand Rises

  • May 14th

by UrbanTurf Staff

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Mortgage demand rose for the second week in a row as homebuyers got off the sidelines. 

Total mortgage application volume rose about 1% last week, the Mortgage Bankers Association reported on Wednesday. Applications to purchase a home rose 2% on a weekly basis, and increased 18% year-over-year. 

“The news for the week was the growth in purchase applications,” Michael Fratantoni, chief economist for the MBA, said in a release. “Despite the economic uncertainty, the increase in home inventory means there are additional properties to buy, unlike the last two years, and this supply is supporting more transactions.”

This article originally published at https://dc.urbanturf.com/articles/blog/as_more_homes_hit_the_market_mortgage_demand_rises/23501.

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