Mortgage applications are on the rise!
Homebuyers are taking advantage of lower mortgage rates and a slow summer for sellers, and that is driving mortgage applications higher. Total mortgage application volume rose 2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was up 69% than the same week one year ago, when interest rates were much higher. The week’s results included an adjustment for the Labor Day holiday.