Home Purchase Applications Rise 6.3%
Posted by Katie Paulsen
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Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week.
“Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago,” said Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates rose slightly last week:
Source: Mortgage Bankers Association (09/08/2010)
To Buy Now:
“Katie K Team”
RE/MAX Northwest
281-384-4386 cell
281-893-8400 x217 office
832-553-7792 fax
www.FreeHoustonTxHomeInfo.com
www.HoustonHomeSoldGuaranteed.com"Your Home Sold At a Price Acceptable To You Guaranteed or I Buy It For Cash!"
On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week.
“Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded one year ago,” said Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates rose slightly last week:
- 30-year fixed-rate mortgages increased to 4.5 percent from 4.43 percent.
- 15-year fixed-rate mortgages increased to 4 percent from 3.88 percent.
- 1-year ARMs increased to 7 percent from 6.95 percent.
Source: Mortgage Bankers Association (09/08/2010)
To Buy Now:
“Katie K Team”
RE/MAX Northwest
281-384-4386 cell
281-893-8400 x217 office
832-553-7792 fax
www.FreeHoustonTxHomeInfo.com
www.HoustonHomeSoldGuaranteed.com"Your Home Sold At a Price Acceptable To You Guaranteed or I Buy It For Cash!"
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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