Home Mortgage Loan Applications Down Slightly
Applications for home mortgage loans were down slightly the second week in September from a week earlier, decreasing 2.5%. Real estate experts say that some potential homeowners may be delaying home purchases and refinances due to the recent Federal Reserve announcement that they plan to keep rates near zero through 2021, giving many potential homebuyers confidence that home mortgage interest rates will remain slow for the foreseeable future. Still, the housing market remains strong with low inventory and mortgage interest rates driving up home prices. Refinance activity is up 30% when compared to last year.
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