Following a minor slump, mortgage application volume jumped by its largest seven-day margin of 2021 earlier in July.

According to the Mortgage Bankers Association and its market index, application volume rose by 16%. Favorable interest rates, which keep getting better, could be a big reason for the increase.

In addition, the refinance index soared by 20%. Although it’s down year over year, the uptick to refinancing is another sign of improving economic conditions and consumer confidence. Purchase volume is also up by about 8%.

Falling interest rates coincide with the positive real estate news. For the second week in a row, for instance, mortgage rates came down to the lowest level since February of this year.

If you’re ready to find the ideal loan product for today’s market, Premier Mortgage Resources can help. We genuinely care about finding you the right loan that gets the job done and aligns with your financial goals.

With a variety of loan products, there’s a high probability that you’ll find exactly what you’ve been looking for both in a financial mortgage plan and lending team.

Whether you’re looking to buy your first home or secure a lower rate for your current mortgage, our lending specialists are here for you. They can tell you more about the various loan products, including FHA, VA and conventional mortgage programs.

FHA loans are suitable for any buyer, especially first-timers. These loans are backed by the Federal Housing Agency and feature lenient borrowing terms that give applicants a little extra wiggle room.

For veterans, a VA loan program is also backed by the federal government and requires no down payment. It truly is the ultimate housing assistance tool our veterans deserve.

Conventional loans, which can require a larger down payment, are not backed by the federal government but are powerful financing tools for today’s competitive market.

Please contact us today to learn about the various loan products and how they can take you down the path toward affordable homeownership.

Premier Mortgage Resources, LLC is not affiliated with or an agency of the federal government.