Real Estate

Homebuyer mortgage demand down but still 18% higher than a year ago


Mortgage rates remained at a record low last week, but refinance demand pulled back anyway.

That, in addition to a brief respite in the surprisingly strong demand from homebuyers, caused total mortgage application volume to fall 8.7% on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association.

Homebuyer mortgage applications have been surging for five straight weeks, thanks to pent-up demand from March and April and a coronavirus-induced desire by more consumers to find more space and escape urban apartments. Purchase mortgage volume fell 3% for the week but was a remarkable 18% higher than a year ago. 

“One factor that may potentially crimp growth…


Sydney could soon be home to a giant ‘hybrid timber’ building

Previous article

Darden Restaurants (DRI) Q4 2020 earnings hurt by coronavirus closures

Next article

You may also like

Leave a Reply

Notify of

More in Real Estate