According to the Mortgage Bankers Association, loan applications to purchase a home jumped 10% from the previous week. In addition, purchase application volume increased to its highest level since May 2010.Refinance activity jumped up as well in response to moderating rates. 
As interest rates fell last week to the lowest level since November, the seasonally adjusted mortgage volume jumped accordingly, up 7.1%.
Notwithstanding, volume for mortgage applications was 16% lower than the same week in 2016.
Other factors impacting the market are:
■ Affordability
■ Inventory
■ Anticipation of the Fed’s rate increase
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.