Jay Fergusonjay@deepcreekvacations.com301-501-0420

U.S. mortgage demand up for third week as rates drop

NEW YORK (Reuters) – Demand for U.S. home loans rose last week for the third straight week as mortgage rates fell to a one-month low and stoked refinancing, an industry group said on Wednesday.

Borrowers are rushing to take advantage of low borrowing costs and other incentives while they last.

The Mortgage Bankers Association’s index of total home loan applications rose 9.1 percent in the week ended January 15 to 575.9 on a seasonally adjusted basis. The increase was driven by a 10.7 percent jump in the refinancing index, while home purchase demand rose 4.4 percent to 223.0 last week.

(more on this article from Reuters)

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350



Leave a Reply

Your email address will not be published. Required fields are marked *