Peoples Home Equity believes that the increase in weekly mortgage applications has followed a realization by home buyers that mortgage rates are soon about to rise dramatically.
(PRWEB) December 11, 2013
Peoples Home Equity is proud to inform readers and clients alike that weekly mortgage applications have increased for the first time in 6 weeks. This news show that demand for financing has returned to the market.
This today’s report from the Mortgage Bankers Association (MBA), show that mortgage applications increased 1.0% from the week ending on December 6th from November 29th. During this period the average contract interest rate for a 30-year fixed-rate mortgage increased to 4.61% from 4.51% the week prior. Peoples Home Equity believes that the increase in weekly mortgage applications has followed a realization by home buyers that mortgage rates are soon about to rise dramatically.
Even refinance applications showed a 2.08% rise in the MBA report. The lender expects to see continued rush of purchase applications due to uncertainty on when The Federal Reserve will taper is stimulus program. The motivation to apply for a mortgage now is further reinforced as rates historically relatively lower during the winter months of December, January, and February. This historical trend was outlined in news released by People Home Equity published on November 15th, 2013 titled “43 Years of Data Shows Historical Bias in Mortgages Rates.”
PeoplesHomeEquity.com offers multiple calculators to help individuals get their finances in order before applying for a refinance or home loan opportunity. Their helpful online tools answer client questions such as: “How much will I save by refinancing my loan?”, “How much can I borrow?” and “How much do I have to earn?” Be sure to visit their website and stay tuned for upcoming mortgage application results on December 18 & 24.
Please contact Peoples Home Equity loan officer today to discuss all their finance options: (855)-897-0300