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Home Purchase Mortgages Bounce Back

Mortgage News > Home Purchase Mortgages Bounce Back
Date: 05/27/2020    Home Purchase Mortgages Bounce Back

Pent-up demand is pushing homebuyers back into the market, with home purchase mortgage applications jumping 9% in the last week, according to the Mortgage Bankers Association. That marks six straight weeks of increases and a 54% rebound since the COVID-19 shutdowns first spooked buyers in early April. Fewer borrowers are refinancing, however, with applications falling 0.2% for the week, led by a 7% decline in government-backed loan refinances. 

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