Demand for Mortgage Applications Climbs

Mortgage applications for home purchases and refinancing increased last week, as more buyers and home owners rushed to take advantage of ultra-low interest rates.

Mortgage applications for purchase — a gauge for future home buying — jumped 6.4 percent last week, according to the Mortgage Bankers Association.

The increase helped send overall mortgage applications soaring 4.9 percent last week. Refinance activity, which accounted for 77.3 percent of all mortgage applications, increased 4.4 percent from the previous week.

The Mortgage Bankers Association reports that in September investors accounted for 6 percent of mortgage application activity, a 5.7 percent jump from the previous month.

Source: “Mortgage Applications Increase 4.9%,” HousingWire (Oct. 25, 2011); Daily Real Estate News (102611); Blog distribution provided by Kenneth Bargers and Bargers Solutions, a proud member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans, Vols & Preds Fan, Nashvillian... let's connect on Instagram, LinkedIn, Pinterest and Twitter. -- contact Kenneth at

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s