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Purchase Mortgage Applications Surge to 11-Year High

Saturday, Jun 20 2020
Lending
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Mortgage applications to buy a home have climbed to their highest volume in more than 11 years, according to data from the Mortgage Bankers Association. So reports CNBC.com.

According to the MBA’s seasonally adjusted index, purchase applications for the week ending June 12 were up 4% from the previous week and a whopping 21% from a year earlier.

MBA economist Joel Kan said in a statement, “The housing market continues to experience the release of unrealized pent-up demand from earlier this spring, as well as a gradual improvement in consumer confidence.”

Read the full article from CNBC.com.

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