Home Mortgage Demand Grows, but Mortgage Rates Inch Higher Too

Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume. Mortgage applications to purchase a home rose 3% the week of March 15, the fourth straight week of gains, according to the Mortgage Bankers Association.

Volume was 26% higher than a year ago. Annual comparisons, however, will likely get very large in April because home buying stalled at the start of the pandemic one year ago. Read the analysis.