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Mortgage Demand Rises As Rates Fall

  • August 6th

by UrbanTurf Staff

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Mortgage rates dropped last week and mortgage demand rose as a result. 

Last week, applications to purchase a home increased 2% week-over-week, and were 18% percent higher than a year ago, according to the Mortgage Bankers Association (MBA) on Wednesday. The Refinance Index rose 5% from the previous week and was 18% higher than the same week one year ago.

“Mortgage rates moved lower last week, following declining Treasury yields as economic data releases signaled a weakening U.S. economy," MBA's Joel Kan said in a statement. “Borrowers sought to take advantage of these lower rates, as both purchase and refinance applications increased over the week."

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_as_rates_fall/23759.

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