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Refinancing Demand Hits Highest Level In Four Months

  • February 12th

by UrbanTurf Staff

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As demand for applications to purchase a home fell, refinancing demand is surging. 

Applications to refinance a home loan increased 10% last week compared with the previous week, the Mortgage Bankers Association reported on Wednesday, and those applications were 33% higher than the same week last year. Purchase applications fell 2% week-over-week, but were 2% higher than a year ago. 

“Mortgage rates moved slightly lower last week, which led to the pace of refinance applications reaching its strongest week since October 2024,” said Joel Kan, MBA vice president and deputy chief economist said in a release. “The average loan size for refinance borrowers increased, as these borrowers tend to be more responsive for a given change in rates.”

See other articles related to: mortgage demand

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/refinancing_demand_hits_highest_level_in_four_months/23179.

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