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October 11th, 2011 10:12 AM

Driven by a wave of FHA loans, applications for mortgages to purchase a home reached their highest level since May last week, but they still trail the 2010 application rate by more than 34 percent. Purchase application rates are good indicators of future sales, and the weekly uptick could indicate an improvement in demand that is still far below 2010 levels. The Mortgage Bankers Association's unadjusted purchase mortgage index increased 9.1 percent last week over the previous week and is now 34.7 percent below the year ago.

FHA News Editor

Posted by Adam Andrus on October 11th, 2011 10:12 AMPost a Comment (0)

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