Economic Report: Mortgage demand rises 7% as rates fall for the third week in a row, but buying activity remains ‘tepid’
The numbers: As mortgage rates fall, homeowners are seizing the opportunity to refinance their mortgages. Mortgage demand rose seasonally adjusted 7% in the latest week.
Demand for both purchases and refinancing increased. That pushed the market composite index up, a measure of mortgage application volume, the Mortgage Bankers Association (MBA) said on Wednesday.
The…
