More People Are House Hunting and Applying For Mortgages as Rates Decline
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Redfin reports prospective homebuyers are hitting the pavement as rates drop to their lowest level since mid-December. But that hasn’t yet translated to sales. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — More house hunters are touring homes and applying for mortgages as weekly average mortgage rates dip to their lowest level since mid-December. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.Mortgage-purchase applications rose 7% this week, and Google searches of “homes for sale” are up 10% month over month. Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of home tours and other buying services from Redfin agents–hit its highest level since the start of the year.The uptick in house hunting hasn’t yet translated to an uptick in home sales. Pending home sales fell 6.1% year over year during the four weeks ending March 9, on par with declines over the last few months.“Mortgage rates are coming down because the countr
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