Mortgage applications, homebuilder confidence jump
Posted January 18, 2012
Mortgage applications were up more than 22 percent for the week ending Jan. 13 thanks in large part to the continued increase in refinance demand.
As part of the Mortgage Application Index, refinances now account for more than 82 percent of all mortgage transactions – the highest level since 2010.
Mortgage rates here in the Triangle are very strong!
Homebuilder Confidence also rose in January – to its highest reading since June 2007. This is the fourth consecutive month of increases - hopefully a trend that will continue throughout the Triangle spring buying and selling season.
Triangle Builders that I have spoken to recently are seeing increased activity from consumers here in the Triangle in the form of foot traffic and current sales, and believe that future sales will continue to increase as well.