Mortgage Demand Rises After Fed Signals Pause in Rate Hikes
Mortgage refinancing and purchase demand rose last week after the Federal Reserve signaled that it would pause rate hikes.
Mortgage application volume rose 7% week-over-week, the Mortgage Bankers Association (MBA) reported on Wednesday.
story continues below
loading...story continues above
“Mortgage applications responded positively to a drop in rates last week, as the Fed signaled a potential pause at the current level for the federal funds rate in anticipation of inflation slowing and tightening financial conditions that will slow economic and job growth," Joel Kan, MBA’s Vice President and Deputy Chief Economist, said in a release. "Lower rates from week to week have helped buyers in the market, but limited for-sale inventory remains a challenge for many homebuyers."
On Thursday, Freddie Mac will release its weekly interest rates, so it will be interesting to see if rates fall as the result of the Federal Reserve's signals.
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_after_fed_signals_pause_in_rate_hikes/21004.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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