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Mortgage Demand Spiked 20% Last Week

  • April 9th

by UrbanTurf Staff

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Mortgage rate chart 04-03-25 (2).png

Mortgage demand surged last week as interest rates fell. 

Total mortgage application volume rose 20% last week, the Mortgage Bankers Association reported on Wednesday. Applications to purchase a home rose 9% week over week, and increased 24% year-over-year. Refinancing demand popped 35% for the week, and was 93% higher than last year. 

“Both homebuyers and refinance borrowers were quick to take advantage of a dip in rates, driving the purchase index 24 percent higher than a year ago to the strongest pace since January 2024," Joel Kan, MBA vice president and deputy chief economist said in a release. "Refinance applications rose by 35 percent to the highest level in six months, as borrowers with larger loan sizes tend to be more sensitive to rate changes."

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_spiked_20_last_week/23381.

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