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.
Buyer
June 1, 2025
You’ve probably asked yourself lately: Is it even worth trying to buy a home right now?
Buyer
June 1, 2025
Predicting color trends is a skill not everyone possesses.
Buyer
May 31, 2025
Stair runners are the unsung heroes of interior design.
Lifestyle
May 31, 2025
Everything you purchase for your home says something about you and your personal style, and we've found that to be especially true when it comes to your dishes.
Lifestyle
May 30, 2025
Sitting on grocery store shelves among all of the different varieties of fruit juice is an unassuming nutritional powerhouse: tart cherry juice.
Buyer
May 30, 2025
Walk into any stunning kitchen, and odds are, the finishes get all the praise.
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