Some Positive Signs of Spring in a Cold Winter Market????
The weekly Wed. mortgage application report had some positive news today. It showed a nice move up in activity following the MLK holiday week.
The numbers read like this.
Refinance Applications Rose: 11.7%
Purchase Applications Rose: 9.5%
What is great about these numbers is that there wasn't a significant move in rates since last weeks' report. Why is this important? Usually the refinance applications follow the rates. Rates move down applications move up, but not so this week. We had pretty stable rate movement and applications growth. This week could give us another positive boost if the Jobs Report on Friday shows some growth and maybe a tick down in the unemployment rate which is still over 9% with little movement down. Let's keep our fingers crossed.
Let's All Think Positive and Think Spring
Positive Energy = Postive Results