In the world of mortgage originations, those in the category of purchases reached the highest level since the early part of 2020.
According to an ICE Mortgage Technology, home purchases held onto 47% share of mortgage originations.
Here’s how other categories fared: The share of conventional loans dipped to 79% while FHA and VA loans each increased by modest amounts of 11% and 7%, respectively.
In another sign of a growing real estate market, the 30-year fixed interest rate averaged under 3.3% during this period of growth. The amount of time it took to close on the loans, however, rose slightly from 51 to 53 days.
If you’re ready to take advantage of today’s low rates and take part in the mortgage action, Premier Mortgage Resources is here to help.
When you partner with us, you will find a variety of loan programs that are designed to meet your specific needs. From home purchases to refinancing, we have a mortgage product for you.
The reality is that there are several types of home loans, and they can all seem overwhelming. Then, there’s the question about fixed versus adjustable rate and government or nongovernment lending. We’ll clear up all your questions and package together a loan that makes sense.
We will take the time to review all the features and numbers, giving you peace of mind. Your long-term financial success will always be top of mind. Contact us today to learn more and explore all of your options. Together, we can save you money and help you plan for a bright future as a homeowner.
Premier Mortgage Resources, LLC is not affiliated with or an agency of the federal government.