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Mortgage applications rise 18% as demand returns to the housing market - Business Insider

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Applications to purchase a home are 18% higher than a year ago as buyers rush back to the market

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Mortgage applications to purchase a home gained 5% last week and were 18% higher than a year ago, according to a Wednesday report from the Mortgage Bankers Association.

Mortgage applications to purchase a home jumped 5% last week and are 18% higher than they were one year ago, according to the"The pent-up demand from homebuyers returning to the market continues to support a recovery from the weekly declines observed earlier this spring," said Joel Kan, MBA's associate vice president of economic and industry forecasting, in a press release. the third time it's hit a record low since March, according to Freddie Mac.

"After reaching a peak of 76 percent earlier this year, refinances now account for less than 60 percent of activity, and the index is now at its lowest level since February 21," said Kan.

 

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Confused here - recovery from what exactly? You're talking about a year ago - pre-covid...

Meaning it's not the time to buy a house yet

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