Internet Mortgage Site Sees Increase in Mortgage Applications
February 2. 2008
Direct Mortgage Pro, an online provider of home loans and other financing options, is seeing a strong increase in mortgage applications.
Carlsbad, CA (PRWEB) February 2, 2008 -- Direct Mortgage Pro, an Internet mortgage provider based in Southern California, is seeing a noticeable increase in the number of applications they received so far this year. The increase in applications is no surprise, though; their statistics are consistent with requests for home loans and other financing options around the nation.
The number of mortgage applications in the United States went up by 7.5 percent during the week ending on January 25, 2008, according to the Mortgage Bankers Association. Experts say the jump in applications for home loans was also pushed by an increase in applications for other financial options, such as refinancing. The number of refinancing applications in the nation increased by a whopping 22.1 percent, which is a much higher increase compared to direct mortgage applications.
The team at Direct Mortgage Pro, who specialize in Internet mortgage financing, say they were pleased to see an increase in applications despite rising interest rates. The average rate for a traditional, 30-year fixed-rate mortgage program rose to 5.6 percent from 5.49 percent. The average rate for a 15-year fixed-rate mortgage program, which is often used to refinance, rose to 5.04 percent from 4.95 percent. The average rate for a one-year adjustable rate mortgage program increased to 5.7 percent from 5.51 percent.
Many realty experts say now is a good time to buy with the right mortgage program, though, because the cost of homes is dropping.
PR Web Press Release NewsWire
Source
http://www.prweb.com/releases/2008/2/prweb670214.htm |
