As unemployment continues to decline mortgage applications may begin to rise strongly, in such an environment property values are bound to move higher as well as mortgage rates.
Chicago, IL (PRWEB) January 14, 2014
Peoples Home Equity is anxious to see tomorrow’s mortgage applications survey report from the Mortgage Bankers Association (MBA). The release will be telling whether applications are responding to the declining unemployment/initial jobless claims or not.
Weekly mortgage applications will be released tomorrow morning, for the week ending January 11th. Last week posted a 2.6% rise in applications; this data was uplifting since recent weekly application reports have been dismal for the past couple months.
Peoples Home Equity believes the recent decline in mortgage applications has been due to rising interest rates and new home loan regulations. Subsequently due to the lack of mortgage applications and property transactions in general due to other factors such as rising prices and limited real estate inventories, The Mortgage Bankers Association has lowered its 2014 expectations for both purchase and refinance origination's.
Peoples Home Equity reminds individuals that applying for a home loan now while the number of applications is a good idea. As unemployment continues to decline mortgage applications may begin to rise strongly, in such an environment property values are bound to move higher as well as mortgage rates. When you couple this thought with the fact that the Federal Reserve is planning to further taper its quantitative easing program and raise interest rates one can imagine how buying a home may become much less affordable in the future. The solution to hedge against this risk is to apply for a safe fixed rate home loan now.
Please contact Peoples Home Equity loan officer today for mortgage details at: (855)-897-0300