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Loan applications to buy spring ahead 5 percent

May 03, 2017
Home buyers are returning to the mortgage market, undeterred by rising mortgage rates. Mortgage applications to buy a home, viewed as a gauge of future homebuying activity, climbed 4 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association. Purchase applications are now nearly 5 percent higher than a year ago.

The average 30-year fixed-rate mortgage was 4.23 percent, up from 4.2 percent the week prior. 

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NYS home sales post second-highest May total

Homebuyer activity remained strong in May, driving the New York State housing market to the second-highest sales total for the month with 10,348 closings. May 2018 closed sales were 8.6 percent lower than the record of 11,322 set in May 2017. The median sales price growth trend continued, increasing by 11.5 percent compared to last May, ending the month at $262,000. Click here to read more.