MBA: Buyers Are Coming Back to the Housing Market
A report issued by the Mortgage Bankers Association indicates that buyers are coming back to the housing market at a much faster pace than was anticipated. The most recent statistics show that purchase volume was just 1.5% lower than a year ago, a stunning recovery from six weeks earlier when purchase volume was down 35%.
An economist for the MBA notes that applications for home purchases have increased for five consecutive weeks. Purchase applications for FHA, VA, and USDA loans are 5% higher than a year ago, another encouraging indication of market growth.
to read a CNBC article on the MBA report.