Mortgage Applications Begin to Rise, After a Long Decreasing Run ...
Turnersville, NJ (PRWeb) March 22, 2007 -- The Mortgage Bankers Association is pushing back its prediction of housing turnarounds saying the industry would regain footing at the end of the year, instead of their previous prediction of mid-year.
According to the MBA, US mortgage applications rose this week as a result of the lowest home loan rates seen since early December. It seems the reported index from the MBA on mortgage application activity rose 2.8% in this last week to 690.5, which is reported to be the highest reading since 721.2 reported last December. The purchase index, which gauges U.S. home sales, gained 2.2% to 414.3. The industry adjusted refinancing applications index climbed 3.5% to 2,312.2.
Troubles with weak credit home loans helped trigger the highest overall mortgage delinquency rates in the last several years.
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