Following-up on what Realtor.com is expecting to be a banner year for real estate transactions, especially here in Idaho, last week the U.S. saw a 30% increase in mortgage applications versus applications the previous week according to a report by CNBC. Additionally, refinance applications saw a 109% increase over numbers from the previous year.
The strong economy and low interest rates are fueling the demand for housing, with homebuyer demand reaching its highest level nationally in 11 years.
Additionally, purchase applications increased 16% for the week, up 8% for last year at this time. Purchase mortgage activity is at the highest level since October 2009.
...the extraordinarily low interest rates, those are helping fuel demand as…