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Mortgage Applications Jump Compared with One Month Ago
Andrew@LivingEstatesRealty.com
Purchase Money Loans Down Only 1.5% From Last Year.
Compare this to last month where home purchase loans were down 35% annually. The Mortgage Banker's Association reports that home loan applications were up 6% compared to this point last month, pointing to pent up buyer demand as our economy reopens.
“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks,” said Joel Kan, an MBA economist. “Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”
Home refinance applications however dipped due to lenders retreating from cash out refinance loans as consumers seek cash amid the COVID-19 outbreak. Home refinance volume is still expected to be up this year due to record low interest rates. Below is the full press release from the Mortgage Banker's Association. https://www.mba.org/2020-press-releases/may/mortgage-applications-decrease-in-latest-mba-weekly-survey
If you have been considering a home purchase or refinance, reach out to me today and I will be glad to share more information on the market as well as tips to navigate your home purchase or refinance successfully.
CALIFORNIA Economic Outlook, Andrew Lomano, Realtor CA & FL View Presentation No One Has a Crystal Ball To exchange more about the Market Reach Out Today CA Economic & Housing Forecast; Forwarding Post from Andrew@LivngEstatesRealty.com
A quick recap of August home Sales in San Mateo County. Home Sales in the cities of San Mateo County. For current inventory of homes for sale as well as off market properties or to receive you home's value, please reach out today at Andrew@LivingEstatesRealty.
April 2020 San Mateo County Housing Market Statistics. For more information as to how to safely and successfully achieve your real estate goals call or visit www.LivingEstatesRealty.com.
March numbers hold surprisingly well amid the shelter in place order in March. Sales prices were largely up and inventory down throughout the county. For more information on your city or neighborhood home values, please reach out to Living Estates Realty today.
Living Estates Realty is providing its viewers, clients and customers with up to date affect of COVID-19 coronavirus on the active home sales market. To learn more, log onto www.LivingEstatesRealty.com today.
Pressure Mounts For Property Tax Relief CA Home Owners, Local municipalities utilizing those funds to fight COVID-19. Stimulus in the form of stronger help for property owners is being called for.
New Bay Area Public Health Recommendation to Cover the Face
JOINT PRESS RELEASE Shelter in Place Through May 3 To Relieve Hospital Load, Real estate and funeral homes deemed essential services. Avoid going out, extreme social distance, get tested and notify those around you if symptomatic, do not touch face, clean touch point surfaces. Those desiring a move or sale of their property amid the SARS-COV-19 outbreak can do so confidently and effectively with Living Estates Realty.
San Mateo County Parks will close all parks at 6 p.m. today, Friday, March 27, to slow the spread of the coronavirus that causes COVID-19. County parks will remain closed until further notice.
The 9 Stimulus Relief Measures for Realtors and Customers Just Now Passed. Check Them Out Here!