Tag Archives: Low mortgage rates not enough to drive demand

Even the demand for refinance mortgages, which accounted for more than 80 percent of all applications, fell slightly. Lenders were offering 30-year fixed-rate mortgages to solid borrowers at an average of 3.95 percent this past week, according to Freddie Mac, the ninth consecutive week of rates at or below 4 percent. That wrapped up a year of record lows for the survey, which dates to 1971. In 1981 and 1982, the average 30-year mortgage carried an interest rate of more than 16 percent, and the typical rate was above 8 […]