Mortgage Applications Increase
Posted on 08 April 2009 by Jamie Beck
Applications for conventional home loans increased last week, likely a result of record low rates.
Bloomberg reports:
“The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan increased 4.7 percent to 1,250.6 in the week ended April 3, a fifth straight gain, from 1.194.4 the prior week. The group’s refinancingpurchase measure jumped 11 percent. gauge rose 3.2 percent and its
The increases mean Federal Reserve efforts to lower mortgage rates and boost lending may succeed in preventing housing from slumping further.”
Unfortunately, more applications don’t always result in more mortgages. As we’ve seen during the past year, taking out a conventional loan can be very difficult in this market.
