FeedbackLast week, the number of Americans applying for mortgages increased 9.1 percent when compared to the week prior, according to a report released today by the Mortgage Bankers Association (MBA). The study showed refinance applications surged nearly 11 percent, while applications from those seeking to purchase a home also climbed 4.4 percent.
According to Quicken Loans Chief Economist Bob Walters, activity remains strong, even in the face of tight credit conditions.
“Mortgage applications have remained strong, buoyed by rates that are holding at historically low levels. The protracted run of increased application activity has to be seen as a very positive sign considering the tight credit conditions the mortgage market is facing,” Walters said.
——————————————————————————–
Was this article helpful? If so, please Retweet and be sure to subscribe to Mortgage News for more up to date information on home loans, home buying tips, and home improvement ideas!
Shopping for homeowners or auto insurance? Check out Ameriprise to see if you can save an average of $700 from switching!
Related posts:
Feedback