With interest rates down, mortgage applications climb 10 percent

The number of mortgage applications jumped 10.3 percent for the week ending June 6, according to the Mortgage Bankers Association’s latest mortgage survey. The association’s Refinance Index shows that the number of applications to refinance a mortgage also grew 11 percent compared to the week before.

HousingWire reports on the gains in today’s article, “Mortgage applications unexpectedly jump 10% for week.” Quicken Loans vice president Bill Banfield told HousingWire:

“The jump in applications shows folks are taking notice of rates near six-month lows.The jump in purchase applications is especially good to see, as homeowners may finally be getting comfortable putting their home on the market with the level of inventory they see around them.”

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.