The MBA’s index for refinancing applications jumped 22.3% last week while home purchase loans rose by 14.2%. This thanks to a huge drop in mortgage rates which are once again near all-time lows. According to CoreLogic year over year nationwide home prices rose 5.5% in November. Meanwhile housing starts rose 44% in December, the strongest pace in 7 years.
And now for something completely different… Did you know that the creator of Peter Pan, J.M. Barrie, gave away the rights to the franchise? He gave them away to a children’s hospital so it could receive royalties to fund the hospital’s operations.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942.
This is Mehran Aram with today's ARAMCO Report.