Mortgage demand falls 9% despite rates falling for fourth week in a row

The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates.

Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure of mortgage... The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure of mortgage application volume, the Mortgage Bankers Association said on Wednesday.

The average contract rate for the 30-year mortgage for homes sold for $726,200 or less was 6.19% for the week ending January 27.For homes sold for over $726,200, the average rate for the 30-year was 5.99%.The big picture: This week’s report was puzzling. Since rates dropped slightly, more people should have applied for mortgages — yet mortgage applications fell.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Today’s mortgage rates for January 30, 2023Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered
Source: njdotcom - 🏆 282. / 63 Read more »

Today’s mortgage rates for January 31, 2023Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered
Source: njdotcom - 🏆 282. / 63 Read more »

School bus driver wins $150,000 on $5 scratch-off and plans to pay off mortgagePaula Harris, a 59-year-old school bus driver in North Carolina, said she also hopes to use the winnings to help out her kids. Wow So very happy for you ❤️
Source: FOX26Houston - 🏆 448. / 53 Read more »