loading...

Mortgage Demand Falls Again

  • 11:17 AM EST

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

As mortgage rates continue to rise, demand continues to drop.

Mortgage application volume dropped about 11% over the last week, the Mortgage Bankers Association (MBA) reported on Wednesday. Applications to refinance a home fell 19% and purchase applications fell 5%. 

"Applications decreased for the sixth consecutive week, with purchase activity falling to its lowest level since mid-August and refinance activity declining to the lowest level since May," MBA economist Joel Kan said in a release. "The average loan size on a refinance application dropped below $300,000, as borrowers with larger loans tend to be more sensitive to any given changes in mortgage rates.”

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_falls_again/22899.

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!