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Mortgage Demand Rises Despite Higher Rates

  • May 28th

by UrbanTurf Staff

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Even as mortgage rates rose for the third week in a row, homebuyers remained active in the market. 

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. An increase in choices for homebuyers appears to be driving demand. 

“Purchase applications were up over the week and continue to run ahead of last year’s pace as increased housing inventory in many markets has been supporting some transaction volume, despite the economic uncertainty,” MBA's Joel Kan said in a statement. 

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_rises_despite_higher_rates/23545.

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