Sep 15

Post-Labor Day Uptick in Mortgage Apps

Post-Labor Day Uptick in Mortgage Apps

 

Post-Labor Day Uptick in Mortgage Apps

Post-Labor Day Uptick in Mortgage Apps

Home buying appears to be picking up after the Labor Day holiday, with total mortgage applications for home purchases and refinancings increasing 4.2 percent on a seasonally adjusted basis last week, the Mortgage Bankers Association reported Wednesday. This time, application volume was boosted more by home buyers than refinancers, a reversal in recent trends.

Home purchase volume rose 9 percent compared to the previous week; total volume is 8 percent higher than the same week a year ago.

“The purchase market remains supported by an improving U.S. labor market,” says Lynn Fisher, MBA’s vice president of research and economics. “Newly released data from the U.S. Census this week indicates that the median income increased by 5.2 percent last year, the highest rate of increase since 2007. Other recent but less comprehensive measures show wage growth continuing to strengthen in 2016.”

Also, a slight drop in mortgage rates may have helped bring more buyers to the table. The 30-year fixed-rate mortgage dropped to a 3.67 percent average last week, MBA reports. However, rates moved higher at the end of the week and continue to inch upward this week, CNBC reports.

Source: “Mortgage Applications Jump 4.2% on Strong Buyer Demand,” CNBC (Sept. 14, 2016)

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.