Mortgage Demand Rises as Rates Fall to Record Low

Mortgage Demand Rises as Rates Fall to Record Low
Christy Bieber, The Motley Fool

Mortgage rates hit another new low last week, falling to the lowest level on record in nearly 50 years. With rates falling to unprecedented low levels, current homeowners and potential homebuyers have jumped on the chance to apply for an affordable home loan. The Mortgage Bankers Association reported a 3.9% increase in the volume of new mortgage applications compared with the week before (on a seasonally adjusted basis).