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Ruth Ann Manison

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Prince Properties, LLC

Ruth Ann on Real Estate

I hope you enjoy my thoughts on real estate, market statistics, how-to's, and pieces I find interesting on buying, selling, remodeling, new construction, investing, and saving your resources.

Thanks for taking the time to read my posts. Feedback is always welcome/encouraged. Feel free to ask questions. About me: My business is primarily residential real estate (helping buyers, sellers, landlords & tenants), and I generally work with referred clients. I love real estate because I learn something new every day and get to work with great people. I am blogging so I can share some of my insight and experiences with those of you who want to buy or sell. Enjoy!

Purchase Mortgage Applications Fell to December 1996 Level - Lowest in 13 Years


July 14th, 2010


Mortgage Volume at Lowest Level in 13 years
Mortgage applications to purchase homes fell to the lowest level since December 1996, decreasing 3.1 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly report.

On an unadjusted basis, the purchase index declined 12.7 percent compared to the previous week and was down 43 percent compared to the week of July 4thin 2009.

Interest rates were up slightly, though they remain very low:

  • 30-year fixed-rate mortgages increased to 4.69 percent from 4.68 percent.
  • 15-year fixed-rate mortgages increased to 4.12 percent from 4.11 percent.
  • 1-year ARMs remained unchanged at 7.20 percent.
Source: Mortgage Bankers Association (07/14/2010)

Rates have inched up slightly. When volume drops, lenders become more motivated to deliver exceptional service. Are you ready to buy? It's a great time...

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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 Houston Association of REALTORSĀ®
Prince Properties, LLC
105 Hunters Lane Suite 108, Friendswood, TX 77546   Get Directions
Phone: (281) 482-5888
Fax: (866) 271-3628