Mortgage Rates Drop to Lowest Level Since March. Buyers Aren’t Biting.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 18 2024
0mins
Source: Barron's
- Mortgage Rates Decline: The average 30-year fixed mortgage rate dropped to its lowest level since mid-March, with a significant week-over-week decline, leading to increased refinancing activities.
- Impact on Home Purchase Loan Applications: Despite the decrease in mortgage rates, there has not been a corresponding increase in home purchase loan applications, as buyers may be waiting for further rate declines before making a decision.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
