Tag Archive | “applications to buy a home”

U.S. Mortgage Applications jumps to Highest since late May

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Data from an industry group showed on Wednesday that last week U.S. mortgage applications jumped to their highest since late May as interest rates tumbled below 5 percent.

Mortgage Bankers Association seasonally adjusted index of mortgage applications

It has been stated by the Mortgage Bankers Association that its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Sept 18 has shown a rise up to 12.8 % to 668.5, which is the highest level since the week ended on May 22.

mortgage applications2

Home refinancing loans

While consumers demanded for home refinancing loans, their desire for applications to buy a home, which is considered to be a tentative early indicator of sales, was also robust. The overall trend bodes well for the hard-hit U.S. housing market, the market that has been showing signs of stabilization.

It has been said by Eric Belsky, executive director at Harvard University’s Joint Center for Housing Studies, that several months of improvement in new and existing home sales is a positive sign.

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