What's Hot: 142-Unit Development At Inn of Rosslyn Site Moves Forward | Mortgage Rates Inch Closer To 7%
Despite Lower Rates, Mortgage Demand Falls
✉️ Want to forward this article? Click here.
Demand for mortgages for home purchases fell last week, even as rates dropped.
The Mortgage Bankers Association (MBA) reported Wednesday that mortgage application volume to purchase a home fell 2% last week, as long-term rates fell to 7.09%.
story continues below
loading...story continues above
“The decline in rates led to a small boost to refinance applications, including another strong week for VA refinances," Joel Kan, MBA’s Vice President and Deputy Chief Economist, said in a release. "However, the overall level of refinance activity remains low. While the downward move in rates benefits prospective homebuyers, mortgage rates are still much higher than they were a year ago, while for-sale inventory remains tight.”
See other articles related to: mortgage demand
This article originally published at https://dc.urbanturf.com/articles/blog/despite_lower_rates_mortgage_demand_falls/22312.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
The application may signal movement on the massive mixed-use project.... read »
Buffett called the five-bedroom listing home when his father, Howard Buffett, was ser... read »
Penzance has unveiled its striking new plans for Rosslyn.... read »
A new report finds that the current housing market is split into two groups.... read »
- What Are Estate Taxes and How Do They Work?
- Raze Application Filed For Site Of 900-Unit Development, Food Hall Along Anacostia River
- The Oracle of Spring Valley: Warren Buffett's Childhood Home in DC Hits the Market
- Three Buildings, 862 Units: The New Plans For Rosslyn's Skyline
- The Two Housing Markets
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro