I always like to post upbeat and encouraging articles! Realestateinsidenews.com posted this article this week, and I just had to share!
"More signs of life for housing.
Following today’s surprisingly positive National Association of Realtors report on home sales we have more good news to share…an INCREASE in mortgage applications to purchase (vs refi).
Clearly, more folks applying for a home loan will result in more home sales. A jump in U.S. mortgage application volume last week was fueled by consumer worries about a scheduled increase in insurance premiums from the Federal Housing Administration, the Mortgage Bankers Association said today.
According to data from the MBA through April 15, mortgage applications for purchase rose 10 percent to their highest level since December on a week-over-week basis, while refinance applications rose by 2.7 percent from the week prior. Government purchase applications, in particular, saw the largest spike, rising 17.6 percent last week. Meanwhile, interest rates fell, with the 30-year mortgage averaging 4.83 percent, down from 4.98 percent one week earlier, and the 15-year mortgage down to 4.07 percent from 4.17 percent one week earlier."
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