Mortgage application volume increased 5.3 percent last week from the previous week and was 0.4 percent higher than a year ago, the Mortgage Bankers Association says.
It's almost as if consumers didn't believe interest rates would stay low, but so far this year they have. Now, finally, consumers are responding. Mortgage application volume increased 5.3 percent last week from the previous week and was 0.4 percent higher than a year ago, the Mortgage Bankers Association said in its seasonally adjusted index that accounted for the President's Day holiday. Low rates appear to be the driver of both refinance and purchase volume.
With the spring buying season just getting started, house hunters may be reacting to lower rates, even as prices are still historically high. Mortgage applications to purchase a home rose 6 percent for the week and were 3 percent higher annually. Purchase demand is still running well below historical norms, however, as today's buyers are facing the weakest affordability levels in a decade.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Weekly mortgage applications rise 3.6%, a sign of hope for the spring homebuying seasonApplications to purchase a home increased 2 percent for the week — the first uptick in four weeks — a sign of optimism in the housing market.
Baca lebih lajut »
US weekly jobless claims fall, but the labor market trend is weakeningThe number of Americans filing applications for unemployment benefits fell last week.
Baca lebih lajut »
Dow poised for longest weekly win streak since 1995 on optimism over trade talksStocks rise Friday, with the Dow on track for its longest weekly winning streak since May 1995, thanks to optimism over U.S.-China trade talks.
Baca lebih lajut »
Can You Correctly Answer These 8 Pop Culture Questions?Here's Our Weekly Pop Culture Quiz — How Well Can You Do?
Baca lebih lajut »