Because most people have to apply for a mortgage before buying a house, mortgage applications are a pretty good indicator of future home sales. It looks like Logan Utah Real Estate sales won’t be increasing too much over the next month as mortgage applications for home purchase’s hasn’t increased. Here is the latest from the MBA and Realtor.org
Mortgage applications to purchase homes rose 0.3 percent on an adjusted basis last week, virtually unchanged from the previous week, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, purchases decreased 0.3 percent compared with the previous week and were 34.1 percent lower than they were the same week a year ago.
This trough in purchases comes despite the fact that 30-year fixed rate mortgages are at the lowest level they’ve been since the MBA began keeping track:
* 30-year fixed-rate mortgages decreased to 4.57 percent from 4.60 percent.
* 15-year fixed-rate mortgages decreased to 3.95 percent from 4.03 percent.
via REALTOR® Magazine-Daily News-Mortgage Volume Is Nearly Flat.
