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Mortgage Demand Popped After Memorial Day

  • June 11th

by UrbanTurf Staff

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Despite little movement with interest rates, mortgage demand popped last week.

Applications to purchase a home increased 10% week-over-week, and were 20% percent higher than a year ago, according to the Mortgage Bankers Association (MBA) on Wednesday. Applications to refinance rose 16% for the week and were 28% higher than the same week one year ago.

“Coming out of the Memorial Day holiday, mortgage applications increased to the highest level in over a month,” said Joel Kan, vice president and deputy chief economist at the MBA, in a release. “Treasury rates saw some movement during the week, which resulted in additional opportunities for borrowers.”

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_popped_after_memorial_day/23592.

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