Demand for Mortgage Applications Rise

Man Paying Restaurant Bill --- Image by © Royalty-Free/CorbisWith interest rates being so low, mortgage applications for refinancing and home purchases increased due to more home owners and buyers wanting to take advantage of these rates.

According to the Mortgage Bankers Association, mortgage applications for purchase increased last week by 6.4 percent. These can be used as an indicator for future home buying.

Overall mortgage applications soared 4.9 percent last week due to the increase in mortgage applications for purchases. Accounting for 77.3 percent of all mortgage applications, refinance activity increased 4.4 percent from the previous week.

In September, according to the Mortgage Bankers Association, investors made up 6 percent of mortgage application activity which is a 5.7 percent increase from last month.

Original Article

7 years ago by in Mortgage | You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site.
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