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Good News for Loan Officers & Real Estate Agents

By
Mortgage and Lending with GMH Mortgage and Century 21 Adams Realty

Good Morning Again, normally I do not blog more than once a day, but I felt compelled to share this interesting and positive information with the AR community.

Best regards,

 Michael Savas

 

 

U.S. Mortgage Applications Rise for Third Straight Week

Topics:Real Estate | North America

By Reuters | 09 May 2007 | 07:20 AM ET

 

U.S. mortgage applications rose for the third straight week, driven by demand for both purchases and refinancings, an industry trade group report showed Wednesday.

The Mortgage Bankers Association said its seasonally adjusted applications index increased 3.6% in the week ended May 4 to 680.7, its highest level since 690.5 in the week ended March 9.

Average 30-year fixed-rate mortgage rates, excluding fees, fell 0.04 percentage point to 6.10%, the lowest since they hit 6.04% in the March 23 week. Long-term borrowing costs have fallen about half a percentage point from a year ago, according to the trade group.

The MBA's seasonally adjusted purchase index rose 2.6% to 438.3, its highest level since 439.7 in the week ended Jan. 12. The group's seasonally adjusted refinancing index showed applications up 4.9% to 2,115.2, its peak since the March 23 week.

Copyright 2007 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.

Show All Comments Sort:
Abe Loper
Nobility Partners, LLC - Lynchburg, VA
Good work Miahael.  I love hearning that.  
May 10, 2007 01:53 AM
Flemington, NJ
Thanks for the good news.  Hopefully we will experience an extended spring market. 
May 10, 2007 02:25 AM