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News

Weekly Mortgage Applications Rise Even as Rates Increase

Kelly Crossley · Mar 28, 2018 ·

March 29, 2018—After decreasing for the first time this year, interest rates rose again last week – but that didn’t stop mortgage application volume from rising.

Applications for mortgages jumped 4.8 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume remained unchanged from one year ago.

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US New-Home Sales Dipped in February, but Demand Is Solid

Kelly Crossley · Mar 28, 2018 ·

March 29, 2018—Sales of new U.S. homes slipped 0.6 percent in February, a third straight monthly decline. But year to date, sales are up 2.2 percent compared with 2017 in a sign that buyer demand remains solid.

The Commerce Department said Friday that last month’s sales came in at a seasonally adjusted annual rate of 618,000, down from 622,000 in January and 653,000 in December.

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Darrell Kellum, Inc. is a custom builder located in the heart of King William County. We service customers in King William, King & Queen, New Kent, Essex, Hanover and Henrico counties.

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