MORTGAGE REFINANCE DEMAND SURGED 6%, AS RATES DROPPED TO THE LOWEST LEVEL SINCE SEPTEMBER
WRE News July 23, 2023
Buyer
WRE News July 23, 2023
Buyer
Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments.
Applications to refinance a home loan jumped 6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume, however, was still 85% lower than the same week one year ago.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.34% from 6.42%, with points decreasing to 0.59 from 0.64 (including the origination fee) for loans with a 20% down payment.
Stay up to date on the latest real estate trends.
Seller
October 28, 2025
A few years ago, inventory hit a record low. Just about anything sold – and fast.
Seller
October 23, 2025
If you’re aiming to sell in 2026, now is the time to start preparing, especially if you want to maximize the spring market’s higher buyer activity.
Buyer
October 21, 2025
If you’ve seen headlines or social posts calling for a housing crash, it’s easy to wonder if home values are about to take a hit.
Buyer
October 20, 2025
If you paused your plans to move because of high rates or prices, it may finally be time to take a second look at your numbers.
Buyer
October 10, 2025
Seller
October 10, 2025
These days, you’re going to want to get your price right when you get ready to sell your house.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today