Weekly mortgage applications fall, but hint at who is buying homes today

div > div.group > p:first-child"> Total application volume fell 2.5 percent week to week, according to a seasonally adjusted index from the Mortgage Bankers Association. Volume was 2 percent lower compared with the same week one year ago.

"The average loan size for purchase applications increased to a record high, led by a rise in the average size of conventional loans," said Mike Fratantoni, MBA senior vice president and chief economist."This suggests that move-up and higher-end buyers have so far become a greater share of the spring market."

Hint: nobody

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly mortgage applications jump 5.3% as lower rates seem here to stayMortgage application volume increased 5.3 percent last week from the previous week and was 0.4 percent higher than a year ago, the Mortgage Bankers Association says. So are the rising applications in the JUMBO zone? How about blue collar loan applications? Homes under 400k, for instance. Purchasing demand noted as down. Maybe RE investors are lining up to buy low. If lower rates are here to stay, what's the rush?
Source: CNBC - 🏆 12. / 72 Read more »