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Mortgage Refinance Demand Pops

  • April 10th 2024

by UrbanTurf Staff

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Demand among homeowners looking to refinance their mortgage unexpectedly jumped last week. 

The Mortgage Banker's Association reported Wednesday that refinance demand rose 10% last week, as mortgage applications to purchase a home fell 5%. 

CNBC posited that those looking to refinance didn't want to wait much longer for rates to drop:

Refinance demand usually drops when rates rise, but rates had fallen back slightly in the previous weeks, so some homeowners may have been waiting for them to go even lower. When rates rose last week, they may have been concerned rates would then move even higher, and therefore jumped in to get what savings they could.

See other articles related to: mortage refinance, refinancing

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_refinance_demand_pops/22177.

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