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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."

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

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