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Mortgage Demand Flattens

Mortgage News > Mortgage Demand Flattens
Date: 10/29/2020    Mortgage Demand Flattens

After a record-breaking summer of refinance and home buying activity, demand for mortgage loans seems to be waning, according to the Mortgage Bankers Association. Total home loan applications increased 1.7% in the latest week, after falling for the past four consecutive weeks. Lower mortgage rates led to a 3% uptick in refinance requests, but home purchase loans applications were essentially flat (0.2% increase) as buyers continue to face rising prices and a lack of inventory.

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