Total mortgage application volume fell 4.1% from the previous week, but were 16% higher than a year ago. The average loan amount for homebuyers hit another record high — $395,200, according to the Mortgage Bankers Association’s seasonally adjusted index reported by CNBC.
Homebuyers are seeing prices rise at the fastest rate in over six years, as highly emotional, pandemic-induced demand for housing butts up against a record low supply of homes for sale, resulting in bidding wars.
from Movement Mortgage Blog https://ift.tt/3r4s5ag
via Naza Finance Blog
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