Home | Newsletter | Advertise
loading...

DC Area Refinance Applications up 180%

  • March 20th 2020

by Nena Perry-Brown

✉️ Want to forward this article? Click here.

In the past week, UrbanTurf has reported on how low mortgage rates compelled a wave of demand for homeowners looking to refinance. Now, a new report is putting some numbers to refinancing demand at the end of the last year.

Nationwide mortgages by quarter and type. Click to enlarge.

A new report from ATTOM Data Solutions shows that 1.27 million owners of buildings with 1-4 units secured refinancing mortgages nationwide in the fourth quarter of 2019. This was a 104% year-over-year increase and the highest amount for any quarter since the third quarter of 2013.

In the DC metro area, there were 30,757 refinanced mortgages in the fourth quarter of 2019, a whopping increase of 180% year-over-year. 

However, when looking at these numbers, it is important to note that the refinancings from the fourth quarter of 2018 represented the lowest level for a quarter since the third quarter of 2000, when 10,766 mortgages were refinanced.

It remains to be seen whether recent spikes in mortgage rates will tamp down demand — and what impact coronavirus may have on appetites to refinance.

Note: The DC metropolitan statistical area includes Frederick, Maryland and Jefferson County, West Virginia.

See other articles related to: attom data solutions, mortage refinance, refinancing

This article originally published at https://dc.urbanturf.com/articles/blog/dc-area-mortgage-refinance-applications-up-180/16619.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse