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[20 Mar 2011 | No Comment | 1,663 views]
Purchase mortgage applications hit yearly high

The national Mortgage Bankers Association announced that purchase applications hit a yearly high during the first week of March.
Specifically, the purchase mortgage index was down 14.3 percent from the same week in 2010 but up 14.3 percent from the previous week. That particular index tracks the volume of national applications made by people wanting to purchase new homes. That 14.3 percent jump represents the highest number of purchase applications made this year.
Here are a couple of things worth mentioning. Bear in mind that the index is down compared to the …