DC Area Refinance Applications up 180%
✉️ Want to forward this article? Click here.
In the past week, UrbanTurf has reported on how low mortgage rates compelled a wave of demand for homeowners looking to refinance. Now, a new report is putting some numbers to refinancing demand at the end of the last year.
A new report from ATTOM Data Solutions shows that 1.27 million owners of buildings with 1-4 units secured refinancing mortgages nationwide in the fourth quarter of 2019. This was a 104% year-over-year increase and the highest amount for any quarter since the third quarter of 2013.
story continues below
loading...story continues above
In the DC metro area, there were 30,757 refinanced mortgages in the fourth quarter of 2019, a whopping increase of 180% year-over-year.
However, when looking at these numbers, it is important to note that the refinancings from the fourth quarter of 2018 represented the lowest level for a quarter since the third quarter of 2000, when 10,766 mortgages were refinanced.
It remains to be seen whether recent spikes in mortgage rates will tamp down demand — and what impact coronavirus may have on appetites to refinance.
Note: The DC metropolitan statistical area includes Frederick, Maryland and Jefferson County, West Virginia.
See other articles related to: attom data solutions, mortage refinance, refinancing
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc-area-mortgage-refinance-applications-up-180/16619.
Most Popular... This Week • Last 30 Days • Ever
This article discusses the variety of rental restrictions that may exist in condomini... read »
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
The DC-area dorm rooms destined for Instagram; introducing fridgescaping; and the $17... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro