U-Pack is the quick, convenient
way to move long distance.

U-Pack Long Distance Moving

Get a free moving quote!

It's fast & easy - no obligations

Mortgage applications decrease

Mortgage applications have decreased, according to recent findings.

Mortgage applications have decreased, according to recent findings.

According to the recently released Weekly Mortgage Applications Survey from the Mortgage Bankers Association, mortgage applications for the week ending February 10 decreased 1 percent from one week earlier.

While housing affordability and the average relocation cost are showing positive signs - allowing Americans the opportunity to move into new homes for prices that are a fraction of previous home values - the economy is still causing tighter lending standards. The tighter lending is causing more rejections when potential homeowners apply for mortgage loans.

The MBA survey covers 75 percent of all U.S. retail and consumer direct residential mortgage applications. The four-week moving average for the seasonally adjusted Market Index decreased 0.45 percent while the four-week moving average for the seasonally adjusted Purchase Index also fell 3.87 percent.
The Refinance Index increased 0.8 percent from the previous week and reached its highest level since August 8.

The NAHB/Wells Fargo Housing Market Index was also recently released, showing builder confidence increasing for the fifth consecutive month in February.