Peoples Home Equity encourages prospective home buyers to apply for a home loan before mortgage rates may react accordingly to this recent positive news.
Chicago, IL (PRWEB) April 19, 2014
Economics announcements were great positive for the housing market this week. As shown on TradingEconomics.com, the National Association of Home Builders (NAHB) Housing Market Index index rose, mortgage applications surged, building permits slid but housing starts still increased. Lastly, initial jobless claims remained very low, as well as continuing claims. Peoples Home Equity encourages prospective home buyers to apply for a home loan before mortgage rates may react accordingly to this recent positive news.
TradingEconomics.com showed announcements for a number of different providers announcing housing data this week. The first was from the NAHB showing a one point rise in its Housing Market Index from 46 to 47. This index is significant as it has been used 30 years. On Wednesday, April 16th weekly mortgage applications rose 4.3% which was the largest increase since 6 weeks ago, and the first positive announcement since 4 weeks ago. Also on Wednesday was new that building permits slid 2.36% yet housing starts rose 2.82%. Lastly, yet not directly related to housing was news that initial jobless claims remained very close their annual lows and continuing claims declined to a fresh 5 year low! The low number of claims is indicative of an improving labor environment which will eventually have the opportunity to purchase a home.
Americans themselves have noticed improvements. This recent change in housing has been so positive that according to a recent Gallup poll on Thursday, April 18th, Americans once again believe real estate is the best long term investment. This mentality is only going to put further pressure on mortgage rates to climb higher. Peoples Home Equity reminds readers that a 30 year fixed mortgage rate is still below the 15 year average which is closer to 5.7%. Prospective mortgage applicants should take the time and seize the moment now to secure a home loan before purchasing a home becomes less affordable. Peoples Home Equity offers a wide range of mortgage options from 15, 20, 30 year fixed, adjustable rate mortgages. The company also offers a wide range of calculators to help individuals plan for how much they need to earn or how much they would have to pay for a home loan.
If interested in securing a competitive, lower rate mortgage, consider speaking with a Peoples Home Equity loan officer today details at: 262-563-4026