“Mortgage demand jumps nearly 10% to start the year, even as interest rates tick up again”
January 16, 2024
“…The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.81% from 6.76%, with points remaining unchanged at 0.61 (including the origination fee) for loans with a 20% down payment. That rate peaked at around 8% in October and was in the 7% range for much of last year.
Applications to refinance a home loan jumped 19% from the previous week and were 30% higher than the same week one year ago. The 30-year fixed rate was 39 basis points higher than it was a year ago, but 26 basis points lower than it was four weeks ago…”