Home Loan Volume Increases to 2.5%

A promising new statistic for the state of the housing market was published last week by the Mortgage Banker’s Association’s weekly application survey, that the mortgage application volume had increased 2.5% as of April 11th, 2008. In addition, refinance volume rose 5.25% during the week, although purchase volume did fall 0.8%. Over half of the total mortgage applications were refinance applications, which is testament to recent action by the FHA to help homeowners refinance into a better mortgage and thus avoid foreclosure.

To read more statistics on last week’s housing market, please visit: http://money.cnn.com/2008/04/16/news/economy/mortgage_applications.ap/index.htm?section=money_realestate