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Triangle Business Today

Mortgage applications, consumer sentiment rise

Posted March 29, 2013

Mortgage applications rose last week thanks to a slight dip in mortgage rates.

European uncertainty once again helped bond prices rise and yields fall as the 10-year dropped to a yield of 1.85 by the end of the week.

Home purchases rose by 6.7 percent for the week ending March 22 while refinances increased by 8 percent during the same time period.

Consumers are feeling a bit more optimistic these days according to the latest sentiment report out from Thompson Reuters/University of Michigan. Their sentiment index rose to a reading of 78.6 in March versus 77.6 in February.

North Carolina unemployment dropped slightly in February according to the Commerce Department. The statewide unemployment rate now stands at 9.4 percent which is down from the 9.5 percent reading in January.

Both the Stock and Bond markets are closed in observance of Good Friday. Have a wonderful Easter holiday.

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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.