4/17/23
Rate movement is still modest, but any downward movement, however small, is good news for borrowers planning to make a home purchase this spring. This is the fifth consecutive week where the 30-year rate has moved lower.
Mortgage applications to purchase a home rose 8% last week, compared with the previous week. They were, however, 31% lower than the same week one year ago, when interest rates were significantly lower. Buyers have been up against not only higher rates and higher home prices, but very limited supply. Applications to refinance a home loan were less reactive, basically flat week to week.
