Home Purchase Applications Rise
Application filing rate climbs 7% over four weeks ago.
Applications to purchase homes rose 1.5 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
The unadjusted purchase index also rose 1.5 percent, and it was up 7.1 percent compared to four weeks ago. Compared to the same week a year ago, it was down 33.7 percent. For the third straight week, government-backed loans, especially Federal Housing Administration loans, drove the increase, with government loan volume rising 3.4 percent compared to last week.
Mortgage rates were remarkably low: 30-year fixed-rate mortgages decreased to 4.60 percent from 4.69 percent. 15-year fixed-rate mortgages decreased to 4.03 percent from 4.12 percent. 1-year ARMs decreased to 7.10 percent from 7.15 percent.
Source: Realtor.com
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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