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Mortgage Demand Rises 8%
As interest rates dropped last week, buyers got off the sidelines.
Mortgage application volume rose 8% week-over-week, the Mortgage Bankers Association (MBA) reported on Wednesday.
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“Prospective homebuyers this year have been quite sensitive to any drop in mortgage rates, and that played out last week," Mike Fratantoni, MBA’s SVP and Chief Economist, said in a release.
On Thursday, Freddie Mac will release its weekly interest rates, so it will be interesting to see if rates fall as the result of slowing inflation.
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This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_8/20899.
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