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Refinancing Up, Purchases Down: A Mixed Bag For Mortgage Applications

  • January 15th

by UrbanTurf Staff

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Mortgage rate chart_01-09-25.png

It was a mixed bag for mortgage demand last week. 

Applications to purchase a home fell 2%, the Mortgage Bankers Association (MBA) reported on Wednesday, while applications to refinance a home rose 22% compared to a year ago. 

“Bond yields in the U.S. and abroad continued to move higher in response to concerns over a sticky inflation outlook and still too-high budget deficits, which pushed mortgage rates higher for the fifth consecutive week" said Joel Kan, vice president and deputy chief economist at the MBA. "The 30-year fixed rate is now at 7.09 percent – its highest level since May 2024.” 

See other articles related to: mortgage demand

This article originally published at https://dc.urbanturf.com/articles/blog/refinancing_up_purchases_down_a_mixed_bag_for_mortgage_applications/23083.

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