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Homebuyers fuel mortgage volume rise

May 10, 2017
Mortgage volume is starting to rise again, and homebuyers are fueling the increase. Total mortgage application volume, including for refinancings and home purchases, rose 2.4 percent last week on a seasonally adjusted basis, according the Mortgage Bankers Association. 

Homebuyers are seemingly undeterred by higher home prices and the limited number of homes for sale. Mortgage applications to buy a home increased 2 percent last week, and are now 6 percent higher than a year ago.

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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.

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