Athens GA Properties, Athens Georgia Homes, and Athens Real Estate

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.”