Mortgage Demand Rises 11% As More Homes Hit Market

  • March 6th

by UrbanTurf Staff

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Mortgage demand rose last week as more homes hit the market. 

Total mortgage application volume rose 11% week-over-week, the Mortgage Bankers Association (MBA) reported on Wednesday. 

“Of note, purchase volume – particularly for FHA loans – was up strongly, again showing how sensitive the first-time homebuyer segment is to relatively small changes in the direction of rates,” said Mike Fratantoni, senior vice president and chief economist at the MBA. “Other sources of housing data are showing increases in new listings, which is a real positive for the spring buying season given the lack of for-sale inventory.”

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This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_11_as_more_homes_hit_market/22044.

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