Home Loan Demand Up
home mortgages
Today the Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, increased 1.3 percent in the week ended July 30.This increase was the third week in a row that the average was higher.
The four-week moving average of mortgage applications, was up 0.3 percent. Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 4.60 percent, down 0.09 percentage point from the previous week, the MBA said.
San Diego California real estate agents
Home Ownership Falls
home ownership
Data released by the Census Bureau yesterday. shows that the U.S. homeownership rate dropped to 66.9 percent during the second quarter of this year, hitting its lowest mark in more than 10 years.
The Census Bureau reports that approximately 85.6 percent of the housing units in the United States last quarter were occupied. Owner-occupied homes made up 57.3 percent of total housing units, while renter-occupied units made up 28.3 percent of the inventory.