Mortgage Applications, Building Permits and Housing Starts All Rise

Mortgage Applications

CNBC reports that the Mortgage Bankers Association's loan application index rose by a seasonally adjusted 2.8% to 528.9 last week, in spite of the fact that 30 year mortgage rates rose by roughly one-quarter percentage point to 5.31 %". Click here for the full story.

Housing Starts

According to Mark Vitner, an economist at Wells Fargo, single-family housing starts have risen for 4 consecutive months. He says "The springtime is arguably the most important time of the year for homebuilders so this increase reflects an actual improvement in real activity, not simply a statistical improvement due to overly active seasonal adjustment."

Building Permits

The third leg of this "good news stool" is the fact that building permits increased 8.7 percent in June which was ahead of most analysts expectations.

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Aloysius Donohue is Ridgewood Resident with two children in the Ridgewood School System, an award winning REALTOR® and a Certified Luxury Home Marketing Specialist with a focus on Ridgewood real estate. For more information on Ridgewood real estate you can contact Aloysius Donohue at 201.906.3287 or aldonohue@marrongildea.com.

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Mortgage Applications, Building Permits and Housing Starts All Rise