Mortgage Demand Jumps As Rates Fall to Lowest Level in Months
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
A Cathedral Heights condominium—located on Cathedral Avenue—with outstanding buil... read »
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 »
- Two Bedrooms with Two Balconies on the Market in Amenity-Packed Cathedral Heights Condominium
- 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
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