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Mortgage numbers news from Colorado Springs New Homes

by: Brian on November 23, 2007 08:00:00 Leave a comment »

Mortgage numbers news from Colorado Springs New Homes. According to this story from the Colorado Springs Business Journal Blog, mortgage application volume “increased 5.5 percent last week,” a good sign for Colorado Springs New Homes. According to the Mortgage Bankers Association’s weekly application survey, the mortgage application index “rose to 707.3, from 670.6 the previous week.”

Additionally:

• The average interest rate for one-year adjustable-rate mortgages increased to 5.98 percent from 5.94 percent the prior week.

• Refinance volume increased 6.4 percent during the week, while purchase volume jumped 4.8 percent.

• The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom.

As a whole, these numbers are a positive indication of the direction in which the national housing market is headed. At Colorado Springs New Homes we are adamant about finding good news in the midst of bad news, and I think this definitely qualifies as good news. While we are experiencing an obviously low period in the national and Colorado Springs New Homes housing markets, numbers like these serve as indications of an ultimate turnaround.