Everything Housing Investors Need to Know Now: Weekly Recap

  Google+ | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Housing investors don’t despair: despite increasing interest rates, applications for home mortgages in the United States rose last week and refinancing accounted for a slightly smaller portion of that activity.

The Mortgage Bankers Association said on Wednesday that its seasonally adjusted index of mortgage application activity — which includes both refinancing and home purchase demand — jumped 3.4 percent in the week ended February 1. This compares to a decrease of 8.1 percent the previous week. On an unadjusted basis, the index jumped 16 percent.

Your 1 Feature Stock Pick for February is hot off the press. Click here to discover it now!

Along with the survey of mortgage application activity, the MBA reported that its seasonally adjusted index of refinancing applications rose 3.5 percent, while its measurement of home loans, an important indicator for home sales, increased 2.2 percent.

Of the total mortgage activity, 78 percent of applications were for refinancing, down from 79 percent the week before…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business