Mortgage Demand Jumps As Rates Fall to Lowest Level in Months
✉️ Want to forward this article? Click here.
Demand for mortgages popped over the last week as long-term interest rates fell to their lowest level in several months.
Mortgage application volume jumped 28% week-over-week, the Mortgage Bankers Association (MBA) reported on Wednesday. Both refinance and purchase activity increased by double-digit percentages.
story continues below
loading...story continues above
“Mortgage rates are now at their lowest level since September 2022, and about a percentage point below the peak mortgage rate last fall," MBA chief economist Mike Fratantoni said in a release. "As we enter the beginning of the spring buying season, lower mortgage rates and more homes on the market will help affordability for first-time homebuyers.”
On Thursday, Freddie Mac will release its weekly interest rates, so it will be interesting to see if rates continue to fall.
See other articles related to: mortgage demand, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_jumps_as_rates_fall_to_lowest_level_in_months/20512.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
This week’s Best New Listings includes a townhouse on a secluded alley block and a ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Best New Listings: One Of 10 On U Street; Moved By Horses To Tenleytown
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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