Weekly Mortgage Demand Surges 11% Higher

Mortgage rates have dropped to their lowest level since October 2024, fueling a surge in mortgage demand. Total mortgage applications increased by 11.2% last week, according to the Mortgage Bankers Association (MBA).

 

The average 30-year fixed mortgage rate fell to 6.67%, down from 6.73% the previous week. This marks the sixth consecutive weekly decline and a 17-basis-point drop from a year ago.

 

Refinance applications jumped 16% week-over-week and are 90% higher than the same period last year, as homeowners who purchased at higher rates seek potential savings. Purchase applications also rose 7% and are 4% higher than last year.

 

“With spring homebuying season approaching, activity is up across all loan categories,” said MBA economist Joel Kan. FHA loan applications saw an 11% boost, driven by a rate drop to 6.34%.

 

Markets are now watching inflation data for further rate movement.

 

 

 

From a humble roadside stand to a thriving brick-and-mortar restaurant, Chef Victor Villa’s journey has been one of passion and perseverance. His tacos have become a beloved Highland Park staple, earning a devoted following for their authentic flavors and top-quality ingredients.

 

Chef Villa’s love for cooking started at a young age, inspired by his grandmother’s traditional Mexican recipes. He began serving tacos from her home, quickly gaining a reputation for delicious, handcrafted dishes that bring the community together.

 

When the opportunity arose to open his own restaurant, he jumped at the chance, creating a welcoming space where people could enjoy great food and good company. Now, Villa’s Tacos is expanding! A brand-new location will be opening soon in Highland Park, continuing the tradition of serving up some of the best tacos in Los Angeles. Stay tuned for the grand opening!

 

 

 

 

Los Angeles, CA 90042

 

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