Mortgage demand falls, but average homebuyer size hits record

Total mortgage application volume fell 4.1% from the previous week, but were 16% higher than a year ago. The average loan amount for homebuyers hit another record high — $395,200, according to the Mortgage Bankers Association’s seasonally adjusted index reported by CNBC. 

Homebuyers are seeing prices rise at the fastest rate in over six years, as highly emotional, pandemic-induced demand for housing butts up against a record low supply of homes for sale, resulting in bidding wars.

Continue reading Mortgage demand falls, but average homebuyer size hits record at Movement Mortgage Blog.

Total mortgage application volume fell 4.1% from the previous week, but were 16% higher than a year ago. The average loan amount for homebuyers hit another record high — $395,200, according to the Mortgage Bankers Association’s seasonally adjusted index reported by CNBC. 
Homebuyers are seeing prices rise at the fastest rate in over six years, as highly emotional, pandemic-induced demand for housing butts up against a record low supply of homes for sale, resulting in bidding wars.
Continue reading Mortgage demand falls, but average homebuyer size hits record at Movement Mortgage Blog.Movement Mortgage Blog