“Mortgage refinance demand drops further, despite homeowners sitting on $17 trillion in equity”
July 12, 2024
“…
- Applications to refinance a home dropped last week for the fourth straight week, down 2%.
- Homeowners were sitting on a collective $17 trillion in equity as of the end of the first quarter of 2024.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased last week to 7.00% from 7.03%.
…”