If you are following home purchase trends, whether you are a buyer or a seller, you will find many sources and indexes that will help you in your decision making process.
All posts tagged: Mortgage Rate
Mortgage Refinance Boom Creates Pressure on Lenders
Lenders across the US are struggling to keep up with the Mortgage Refinance Boom. The recent Federal Reserve rate cut has motivated many homeowners that were waiting for the right time to refinance to make their move and file an application. Major lenders are doing their best to meet the need including hiring new loan underwriters, processors, and closers.
Purchase application volumes have also increased to the highest level in over 11 years, which is adding to the pressure on the entire mortgage industry affecting lenders, appraisers, and title companies.
Interest Rates are at Historic Lows
Mortgage rates were low in January and continued to fall to historic lows in February. According to many sources, now is a great time to refinance a home, or get a great mortgage on a home purchase.