Mortgage refinance demand surges even as rates cross back over 7%. Here’s why…

by anastasiakaufman-chime-me

PUBLISHED WED, APR 10 20247:00 AM EDTUPDATED 6 HOURS AGO

This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) — This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024.Jim Watson | Afp | Getty Images

Overall mortgage demand has now moved sideways for three straight weeks, but last week saw a split between those looking to buy a home and those hoping to save money with a refinance.

Total mortgage application volume increased just 0.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index, essentially flat. LEARN MORE…

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