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Mortgage Demand Stalls As Rates Barely Move

  • August 20th

by UrbanTurf Staff

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Mortgage rates didn't move very much last week and neither did mortgage demand. 

Last week, applications to purchase a home increased just 0.1% week-over-week, and were 23% percent higher than a year ago, according to the Mortgage Bankers Association (MBA) on Wednesday. The Refinance Index fell 3% from the previous week, but was 23% higher than the same week one year ago.

“Purchase applications were little changed over the week but were at the strongest pace in four weeks and continued to run well ahead of last year’s pace,” said Joel Kan, an MBA economist in a release. “Prospective homebuyers remain more active compared to last year despite economic headwinds and uncertainty and affordability challenges.”

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_demand_stalls_as_rates_barely_move/23782.

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