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Mortgage applications have increased according to the Mortgage Bankers Association’s weekly report while Mortgage rates continue to fall. The (MBA) stated that the seasonally adjusted composite Index increased 4.7%, and the seasonally adjusted purchase Index grew by 4.00% from last week. The average 30-year fixed rate Mortgage fell to the lowest rate seen since November of last year, averaging 4.58% while the 15-year Fixed-rate Mortgage also decreased 0.4%, averaging 3.68%. Experts suggest that the growth in mortgage applications and decrease in rates could be an indicator for a strong spring housing market. More here
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