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Mortgage Volume Fizzles Despite Low Interest Rates

Thursday, Apr 30 2020
Lending
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Demand for mortgages seems to be leveling off, with purchase applications at a five-year low while refinance applications remain elevated. So reports CNBC.

According to the Mortgage Bankers Association, total mortgage application volume was down 0.3% last week but up 70% from last year.

The increase was all due to refinances, down 1% for the week but up 225% from a year ago. Interest rates are down more than one percentage point from this time last year.

Read the full article from CNBC.

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