All articles tagged with #refinance demand
Originally Published 3 months ago — by CNBC
Mortgage refinance demand surged nearly 60% last week due to falling interest rates, reaching the lowest levels since October of the previous year, driven by homeowners seeking savings amid economic uncertainty, with particular strength in adjustable-rate mortgages and a slight increase in home purchase applications.
Originally Published 6 months ago — by CNBC
Mortgage rates dropped to their lowest since April, leading to a 7% weekly increase in refinance applications, which are 40% higher than last year, while home purchase applications remained largely unchanged due to ongoing market uncertainty.
Originally Published 2 years ago — by CNBC
Mortgage interest rates decreased last week, leading to a rise in refinance demand but offering little relief to potential homebuyers. Total mortgage application volume increased by 1.1%, with applications to refinance a home loan jumping 7% but still remaining 32% lower compared to the previous year. Applications for a mortgage to purchase a home fell by 1% and were 21% lower than the same week in 2022. The housing market is experiencing a decline in supply and rising home prices, which is further impacting homebuying activity. Mortgage rates have remained relatively stable, hovering in the high 6% range on the 30-year fixed.