Orange County mortgage activity picks up for another week

Mortgage Activity Is Up For Another Week In Orange County And Across The United States.

Orange County Mortgage Brokers know better than anyone that there is a correlation between lower mortgage interest rates and increased mortgage applications across the United States.

This fact was confirmed this week by the Mortgage Bankers Association; when they released a report that showed mortgage refinancing and new home purchases rose almost eight percent in the week that ended on March 22^nd.

Inside The Mortgage News

The increase in mortgage refinancing in Orange County and across the U.S. is good news for the economy and mortgage industry in general since activity was declining for almost 10 straight weeks but this downward trend stopped last week.

Loan requests by people who want to purchase new homes were also up as well by almost seven percent while refinancing activity amounted to almost 75% of all mortgage related activity in Orange County California and nationwide.

Not Going To Last For Long

In spite of the good news, interest rates for a 30-year mortgage loan remain at 3.79 percent, but, this mortgage interest rate can go up, and is expected to go up in the coming months, as there will be more homebuyers on the market.

First time home buyers and people who are thinking about refinancing their mortgages should consider taking action now or risk missing out on historically low mortgage interest rates.

Do You Qualify For A Mortgage Loan?

If you’re thinking about buying an Orange County home or refinancing your existing Orange County Mortgage to get a better interest rate now is the time to take advantage of the best financial opportunity that hasn’t been seen since the early 1970’s.

For a free mortgage consultation contact Sun Financial Group today by calling us at (949) 699-1950 or clicking here to schedule a mortgage loan consultation at your convenience.