Last week there was an increase in demand for home purchase loans which in turn pushed mortgage applications higher. CNBC’s article, “Home Loan Demand Nudges Higher in Latest Week” discusses the increase in mortgage applications and how it will affect the U.S. housing market, which is still very vulnerable. Bill Emerson the CEO of Quicken Loans was interviewed and had this to say:
“The lofty level of homes either on the market for sale or about to hit the market through foreclosures and short sales are the biggest threat to the U.S. housing market.
‘This inventory will pressure prices, so many people are sidelined right now, waiting for prices to fall further,’ he said.”
To see more about what Bill has to say and about the increase in mortgage applications check out CNBC’s article.
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