Get Ready for a Strong Spring

The Mortgage Bankers Association reports that purchase loan applications rose the last week of March for the twelfth week in a row after 53 weeks of declines, increasing 5.7 percent week over week (seasonally adjusted) and 7.6 percent year over year.

ArrowThe continued good news in applications and other indicators shows a housing market with forward momentum, concludes financial services company Raymond James: "Positive data points such as tight existing home inventory and a seven-year high in February’s new home sales pace help reinforce the positive feedback on the current spring selling season from our early channel checks. Continued sub-4% mortgage rates and the adoption of the 97% LTV program by Freddie Mac in late March should further expand credit availability and provide a boost to the housing market."

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