Wednesday, April 17, 2013

Mortgage applications on the rise

Applications for new mortgages, an index of which is shown in the chart above, plunged in the first 5 months of 2010 and hit a 15-year low in 2011. Since then, they have risen 37%. This provides yet more confirmation of the resurgence in the residential housing market. New buyers are coming back into the market. The most recent data available from Radar Logic shows that housing prices are up about 10% from year-ago levels:

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NEW YORK (Reuters) – Applications for home mortgages fell last week for the first time in more than a month as interest rates jumped, sapping demand for refinancing, an industry group said on Wednesday. Tulsa mortgage