Low mortgage rates not enough to drive demand, survey finds
Mortgage LoanEven 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 […]