Mortgage Applications Up For 3rd Week – What's Up Clarksville

Mortgage Applications Up For 3rd Week

 Last week, purchase mortgage applications increased 6% nationally, up for the third week in a row. Versus a year ago, purchase applications are down 19%, but climbing back, demand now within 15% of pre-shutdown levels. Fannie Mae projects low mortgage rates will send refis through the roof, to $1.4 trillion in 2020, the most since 2012. The extra money lower monthly payments will put in homeowners’ pockets should do a lot to restore economic growth.The chief economist for a national online listing site says the housing market bottom is “pretty much now,” as new listings head upward, adding: “We’re seeing several signs that there is still a good amount of demand for housing.”