What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
Mortgage Refinance Demand Pops
✉️ Want to forward this article? Click here.
Demand among homeowners looking to refinance their mortgage unexpectedly jumped last week.
The Mortgage Banker's Association reported Wednesday that refinance demand rose 10% last week, as mortgage applications to purchase a home fell 5%.
CNBC posited that those looking to refinance didn't want to wait much longer for rates to drop:
Refinance demand usually drops when rates rise, but rates had fallen back slightly in the previous weeks, so some homeowners may have been waiting for them to go even lower. When rates rose last week, they may have been concerned rates would then move even higher, and therefore jumped in to get what savings they could.
See other articles related to: mortage refinance, refinancing
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mortgage_refinance_demand_pops/22177.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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