Mortgage rates sink again, and homebuyers jump back in
CNBC • • business
Key Points:
- Mortgage rates declined for the third consecutive week, with the average 30-year fixed-rate mortgage dropping to 6.35%, boosting demand among homeowners and buyers.
- Total mortgage application volume increased by 7.9% last week, driven by a 10% rise in purchase applications and a 6% increase in refinance demand.
- The spring housing market is showing renewed strength, supported by a resilient job market and higher inventory levels, despite ongoing geopolitical uncertainties.
- Mortgage rates remain volatile due to mixed signals regarding US-Iran peace talks and recent stronger employment data, causing slight fluctuations early this week.
