According to the Mortgage Banker’s Association, mortgage applications rose more than 33 percent last week on a seasonally adjusted basis, rising to 661.7 from 496.2 the previous week, based on the associations weekly survey of mortgage activity. They also commented that applications reached their highest levels in the past four months.
Home refinances were the stimulus to most of this increase. The MBA’s refinance Index increased 88.1 percent while the Purchase Index increased only 2.4 percent.
“Renewed financial concerns should keep long-term Treasury yields low and translate to lower mortgage rates in the near term, despite some widening in mortgage spreads,” says Orawin Velz, MBA’s Associate Vice President of Economic Forecasting in a statement. “We expect to see meaningful increases in mortgage demand in coming weeks on both the purchase and refi sides.”
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About hankbailey
Member of the Athens Area Association of REALTORS®, Georgia Association of REALTORS®, and the National Association of REALTORS®. I grew up in Athens and graduated from UGA with a BBA from the Terry College. I serve as a Residential Real Estate Listing and Buyer Services through Prudential Georgia, one of the largest real estate companies in the State of Georgia. Working with first time home buyers, step-up buyers, and Relocations in Jackson, Barrow, Oconee, and Athens-Clarke Counties.
http://www.AdvancedPropertyMarketing.com (this is our listing methodology)
http://www.GetJobLossProtection.com (this is an overview of our job loss program)
• Adept at understanding mortgage financing issues, products, and terminology.
• Technical expertise in internet marketing.
• Excellence in establishing trust with clients.
Represents Prudential Georgia Property Management in the acquisition and marketing of properties for lease in the Greater Athens area.
Personal website; www.athensgahomesforsale.com
Member of GA MLS
Member of FMLS
Member Georgia Association of REALTORS®
Member of Athens Association of REALTORS®
Member of the National Association of REALTORS®
Member of the UGA Alumni Association
