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Mortgage Demand Pops As Rates Drop To Three-Month Lows

  • July 9th

by UrbanTurf Staff

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Long-term mortgage rates dropped to their lowest level in three months and homebuyers took notice. 

Applications to purchase a home increased 9% week-over-week, and were 25% percent higher than a year ago, according to the Mortgage Bankers Association (MBA) on Wednesday. Applications to refinance also rose 9% for the week and were 56% higher than the same week one year ago.

“Homebuyer demand is being fueled by increasing housing inventory and moderating home-price growth,” said Joel Kan, vice president and deputy chief economist at the MBA, said in a release. “The average loan size on a purchase application, at $432,600, was at its lowest since January 2025.”

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_pops_as_rates_drop_to_three-month_lows/23664.

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