4 Sale: Italian Leather Sofa and matching Loveseat (not pictured)
Wednesday, May 16, 2007
Saturday, May 12, 2007
Mortgage Activity Blooms in Spring May 09, 2007, 2:53 pm PDT
News provided by Quicken Loans
Mortgage activity among consumers jumped last week, according to the Mortgage Bankers Association. The association announced this morning that for the week ending May 4, the number of Americans applying for a mortgage to purchase a home or refinance their current mortgage grew by 3.6% as compared to the previous week. Refinance activity was strongest, climbing 4.9% in the past week, but purchase activity made an impressive showing as well, increasing 2.6%. All told, the number of people applying for a mortgage last week was a substantially better 19.9% higher than the same week in 2006. This was the second consecutive week both purchase and refinance activity increased, signaling that perhaps April showers brought more than just May flowers รข€“ they brought a much-needed boost to the housing market. "Today's strong results are an indication that consumers are taking advantage of the prime home buying season and the robust inventory of homes to choose from. As we head into the summer months, the market should be further bolstered by long-term interest rates that continue to reflect near historic lows," said Bob Walters, chief economist of the nation's largest online lender, Quicken Loans. "Refinance applications should also remain strong. We're seeing a continued trend of homeowners refinancing out of ARMs and into the security of fixed-rate programs."
News provided by Quicken Loans
Mortgage activity among consumers jumped last week, according to the Mortgage Bankers Association. The association announced this morning that for the week ending May 4, the number of Americans applying for a mortgage to purchase a home or refinance their current mortgage grew by 3.6% as compared to the previous week. Refinance activity was strongest, climbing 4.9% in the past week, but purchase activity made an impressive showing as well, increasing 2.6%. All told, the number of people applying for a mortgage last week was a substantially better 19.9% higher than the same week in 2006. This was the second consecutive week both purchase and refinance activity increased, signaling that perhaps April showers brought more than just May flowers รข€“ they brought a much-needed boost to the housing market. "Today's strong results are an indication that consumers are taking advantage of the prime home buying season and the robust inventory of homes to choose from. As we head into the summer months, the market should be further bolstered by long-term interest rates that continue to reflect near historic lows," said Bob Walters, chief economist of the nation's largest online lender, Quicken Loans. "Refinance applications should also remain strong. We're seeing a continued trend of homeowners refinancing out of ARMs and into the security of fixed-rate programs."
Thursday, May 10, 2007
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