Mortgage Demand Drops Due To Economic Uncertainty
✉️ Want to forward this article? Click here.
Mortgage demand fell last week over concerns about the economy.
Applications to purchase a home fell 4% week over week, and were just 3% higher than a year ago when mortgage rates were much higher. Applications to refinance a home loan dropped 4% week-over-week, but were up 42% year-over-year.
“Mortgage application activity, particularly for home purchases, continues to be subdued by broader economic uncertainty and signs of labor market weakness, dropping to the slowest pace since February, 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_due_to_economic_uncertainty/23454.
UrbanTurf Listings showcases the DC metro area's best properties available for sale.
Most Popular... This Week • Last 30 Days • Ever
After a sluggish start to the year, the DC area housing market put its foot on the ga... read »
As a homeowner, it's important to understand the types of insurance you need to prote... read »
A dormant stretch of Connecticut Avenue in Chevy Chase may soon see new development.... read »
In this week's Above Asking, we feature a mid-century modern home in Alexandria that ... read »
The One Front Door Act is a building code change that could meaningfully shift what g... read »
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
