Mortgage demand has started stronger this year compared to last, despite higher interest rates. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume was 7% higher last week than one year ago. The average 30-year fixed-rate mortgage with conforming loan balances increased by ten basis points. Refinance applications were up 22% year-over-year, while purchase mortgage applications were down by 2%.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Mortgage demand has started stronger this year compared to last,
00:05despite higher interest rates.
00:06According to the Mortgage Bankers Association Seasonally Adjusted Index,
00:10total mortgage application volume was 7% higher last week than the same week one year ago.
00:15The average 30-year fixed rate mortgage with conforming loan balances
00:19increased by 10 basis points.
00:21Refinance applications were up 22% year-over-year,
00:24while purchased mortgage applications were down by 2%.
00:27For all things money, visit Benzinga.com slash GSTV.