According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were relatively flat last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages.
Despite this, however, demand for mortgage applications was down 4.1 percent from the week before. Michael Fratantoni, MBA's chief economist, told CNBC the drop could be evidence that first-time buyers are having trouble finding homes this spring. “The survey saw relative weakness in the growth of government application volume, suggesting that many potential first-time buyers remain on the sidelines due to the lack of entry-level homes on the market,” Fratantoni said. A lack of affordable inventory in some markets has been credited with holding back home sales this spring, especially among younger home buyers. Overall, though, demand for loans to buy homes is still higher than at the same time last year, up 9 percent as of last week.
The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications.
Apply For A Home Loan Here
Author:Tim Stoll Phone: 214-868-2959 Dated: May 18th 2017 Views: 683 About Tim: It’s hard to find another real estate agent in Dallas who is as hard working, honest, educated, ex...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
General Inquiries: firstname.lastname@example.org
Office Number: 1 (800) 683-5651
Texas Real Estate Commission Consumer Protection Notice
More Americans Say Now is a Good Time to Sell! Recently relea
"Matt is simply great; he is professional, accessible, and highly informative. Highly experimented, he stays ahead of the game and his tips are priceless. I benefited greatly from his extensive knowledge, and appreciated his diligence and energy. Thanks Matt!"