Applications for Mortgages Looking More Brisk
We could see a strengthening in mortgage activity as we enter the traditionally busy spring and summer months. That is the conclusion to be drawn from the 3.6 percent gain in mortgage activity last week as compared to the previous week.
That gain in the number of mortgage applications was noted in the latest Market Composite Index. The Index, which measures and compares mortgage loan application volume from week to week, also recorded a 3.7 percent gain in the purchase of properties, as compared to the previous seven days.
This was welcome news in the financial sector, and received an especially positive response in the mortgage industry. It could indicate that we’re on the verge of a very active home buying season indeed.
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