URL has been copied successfully!
Mortgage market activity surged last week as interest rates declined for the third consecutive week, new industry data released on April 22 show.
Total mortgage applications climbed nearly 8 percent for the week ending April 17, according to the Mortgage Bankers Association.
Application for new-home purchases advanced 10 percent, while refinancing jumped 6 percent.
“Mortgage rates declined last week as financial markets responded positively to the Middle East ceasefire and the lower trend in oil prices,” Mike Fratantoni, the group’s chief economist and senior vice president, said in a news release.
“Despite the geopolitical uncertainty, housing demand is being supported by a still resilient job market, and homebuyers are experiencing a buyer’s market in most of the country given the higher levels of inventory relative to last year.”…
Total mortgage applications climbed nearly 8 percent for the week ending April 17, according to the Mortgage Bankers Association.
Application for new-home purchases advanced 10 percent, while refinancing jumped 6 percent.
“Mortgage rates declined last week as financial markets responded positively to the Middle East ceasefire and the lower trend in oil prices,” Mike Fratantoni, the group’s chief economist and senior vice president, said in a news release.
“Despite the geopolitical uncertainty, housing demand is being supported by a still resilient job market, and homebuyers are experiencing a buyer’s market in most of the country given the higher levels of inventory relative to last year.”…
Please follow us:
