Mortgage Demand Declines Despite Lower Rates Amid Refinance Surge
TL;DR Summary
Mortgage demand from homebuyers decreased slightly after four weeks of gains, despite a small drop in mortgage rates to their lowest since April. Refinance applications increased modestly, especially for FHA and VA loans, while purchase applications declined by 3%, mainly due to affordability issues amid higher home prices. Overall, mortgage activity remains subdued, with upcoming economic reports likely to influence rates further.
Topics:business#business#homebuyers#housing-market#mortgage-demand#mortgage-rates#refinance-applications
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- Mortgage rates aren’t low enough to spur application activity HousingWire
- Unlocking Value: Construction and REITs in the Era of the MBA Refinance Surge AInvest
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