Mortgages fall to nine-month low, leading to spike in mortgage applications – Houston Chronicle

Mortgage rates have fallen to a nine-month low, according to Freddie Mac.

Prospective home buyers are responding. The number of mortgage applications have jumped by over 20 percent, a positive sign for home sales after they flagged this December in the Houston region.

MORTGAGE RATES: Mortgage rates fall, potentially helping home sales

“Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales,” wrote the mortgage-finance company in its most recent mortgage market survey.

The average rate for a 30-year fixed-rate mortgage fell to 4.45 percent, the lowest they’ve been since April of 2018, though they are still up 0.46 percent from the year before.

Let’s block ads! (Why?)

Source link