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Mortgage Demand Drops, But Buyers Are Coming Back

  • April 2nd

by UrbanTurf Staff

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Mortgage demand ticked down last week as mortgage rates remained in the same place that they have been for about a month. 

Total mortgage application volume dropped 1.6% last week, the Mortgage Bankers Association reported on Wednesday. Applications to purchase a home rose 2% week over week, and increased 9% year-over-year. Refinancing demand fell 6% for the week, but was 57% higher than last year. 

“Overall purchase activity has shown year-over-year growth for more than two months as the inventory of existing homes for sale continues to increase, a positive development for the housing market despite the uncertain near-term outlook,” said Joel Kan, MBA vice president and deputy chief economist said in a release. 

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_drops_but_buyers_are_coming_back/23357.

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