Some good news for the housing market: Mortgage applications are up 4.8%.
This increase could mean a couple of different things:
1. The warmer spring weather is getting more buyers motivated, and they are preparing to buy in the typically busier spring and summer markets.
2. The rise in interest rates over the last few weeks has spurred some owners to refinance as they might suspect rates are on the rise.
Either way, this is good news for the housing market that has produced very little positive news since the downturn in the market.
To read the original article from Housingwire.com, visit: http://www.housingwire.com/article/mortgage-application-filings-jump-48