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Residential Purchase Mortgage Applications Increase

Residential Purchase Mortgage Applications posted the largest increase since early July, which many sources say is a result of increased inventory and slightly reduced mortgage interest rates.

Current mortgage rates lowered to just over 3% after experiencing all-time record lows last year of under 3%. In an article on, Joel Kan, MBA”s Associate Vice President of Economic and Industry Forecasting states: “There was a resurgence in mortgage applications the week after Labor Day, with activity overall at its highest level in over a month, and purchase applications jumping to a high last seen in April 2021. Housing demand is strong heading into the fall, despite fast-rising home prices and low inventory. The inventory situation is improving, with more new homes under construction and more homeowners listing their home for sale. Despite this week’s increase, purchase applications were still 13 percent lower than the same week a year ago.”

The article, written by Jann Swanson, has solid insights into the upcoming trend for mortgage rates, home prices, and other economic indicators for the real estate and mortgage industry.Read the article here:

Mortgage Applications Rise, Reflecting Improved Inventories

During home buying, selling, and ownership there are times when you need to have documents notarized. The team at Notary Near You makes this process as easy as possible with our mobile notary service.  We come to you where ever you are, and at a time that works in your calendar!

Have questions about how our mobile notary service works, please contact Notary Near You at 877-395-2650 or visit our website and we will gladly answer any questions you may have.

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Notary Near YouResidential Purchase Mortgage Applications Increase

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