Mortgage Demand Creeps Higher As Rates Move Lower
After falling for a month, mortgage demand is back on the rise as interest rates drop.
Mortgage applications rose 3.2% last week from the previous week, according to the Mortgage Bankers Association (MBA). It was the first time in a month that applications increased.
story continues below
loading...story continues above
“The ongoing moderation in home-price growth, along with further declines in mortgage rates, may encourage more buyers to return to the market in the coming months,” MBA economist Joel Kan said in a release.
Freddie Mac reported 6.33% on a 30-year mortgage last Thursday, down 16 basis points from the previous week. It was the fourth week in a row that rates dropped.
See other articles related to: interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_creeps_higher_as_rates_move_lower/20414.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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