Estimated reading time: 0 minutes, 25 seconds

Mortgage Demand Rises as Homeowners Hustle to Refinance

Borrowers have hurried to take advantage after two straight weeks of declining mortgage rates. So reports CNBC.

arrows 311332 640 smallAccording to the Mortgage Bankers Association's seasonally adjusted index, total mortgage application volume increased 5.5% in the week ending November 5, led by a 7% rise in refinance activity.

Refinance applications were still down 28% from the same time a year ago, and MBA economist Joel Kan said in a statement, “Although overall activity remains close to January 2020 lows, homeowners acted on the decrease in rates.”

Read the full article from CNBC

Read 1239 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.