Nov 14, 2011

Mortgage Apps are up 10.3%

Mortgage applications jumped 10.3% for the week ending Nov. 4, a sign that continued low interest rates are starting to entice consumers, according to new figures compiled by the Mortgage Bankers Association and contract mortgage processors like PrivoCorp are happy about the volumes ...

According to the MBA, refis are now 78.6% which is a good sign given that lending standards are higher and more people are getting their homes refinanced to capitalize on the lower interest rates in the country. This means that borrowers now have the ability to keep more income to themselves to either save or for other consumption activity which will be good for the economy as a whole.

PrivoCorp - is one of the fastest growing contract mortgage processing companies based out of Austin TX

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