Demand for mortgages has risen sharply this week. Rates have fallen to the lowest level since July, but are still extremely high. While there was a surge in refinancing, it appears to be led by those who bought this year and does little to give prospective first-time buyers hope of a dramatic drop in mortgage rates.

Roben Farzad, host of public radio’s “Full Disclosure” joins host Robin Young for more on the housing market.

This article was originally published on WBUR.org.

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