Mortgage demand falls for second week, suggesting slowdown in housing recovery


The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop.

Mortgage applications to purchase a home fell for the second straight week, down 1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase volume was still 15% higher than one year ago, but that annual comparison is now shrinking. 

“The weakening in activity is potentially a signal that pent-up demand is starting to wane and that low housing supply is limiting prospective buyers’ options,” said Joel Kan, an MBA economist. “The average purchase application loan size increased to a record high in our survey…


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