Mortgage Demand Rises As Rates Fall For Fifth Week in a Row
✉️ Want to forward this article? Click here.
Demand for mortgages continued to rise over the last week as long-term interest rates fell for the fifth week in a row.
Mortgage application volume rose 7.4% week-over-week, the Mortgage Bankers Association (MBA) reported on Wednesday.
story continues below
loading...story continues above
“Both purchase and refinance applications increased last week and have shown gains in three of the past four weeks because of lower rates," MBA's deputy chief economist Joel Kan said in a release. "Purchase activity that was put on hold last year due to the quick runup in rates is gradually coming back as rates ease and housing demand remains strong, driven by supportive demographics and the ongoing strength in the job market.”
On Thursday, Freddie Mac will release its weekly interest rates, so it will be interesting to see if rates continue to fall.
See other articles related to: interest rates, mortgage
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_as_rates_fall_for_fifth_week_in_a_row/20597.
Most Popular... This Week • Last 30 Days • Ever

The center for the Washington Capitals is listing the 16,000 square-foot home for jus... read »

A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »

Back in 2023, Aria Development Group acquired a commercial building in Ballston with ... read »

The winning team includes Northern Real Estate Urban Ventures and the Nix Development... read »

Home Depot's $20 billion secret garden; Buzzard Point development site hits market; a... read »
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