mortgage-demand-reaches-4-year-high | Market Updates

Details: Category: Market Updates Market Updates; Published: 16 January 2008 16 January 2008; Hits: 13383 13383

Homes for sale in Nampa Idaho

I was speaking with a mortgage lender at lunch today, here in Nampa, Idaho. They said they have received a pile of new loan applications and their market is certainly picking up since the new year! That's exciting news...right here in town! There are more people that are buying homes for sale in Nampa Idaho!

The following article is from the Mortgage Bankers Association about the National Demand for Mortgages. For more detailed information on Idaho Real Estate contact Don Wixom. To apply for a new loan for a home purchase, contact Leon Baker. To refinance your current home loan, click here!

Daily Real Estate News | January 16, 2008

Mortgage Demand Reaches 4-Year High

Demand for mortgages surged last week, hitting its highest level in nearly four years as interest rates fell, the Mortgage Bankers Association reported today.

Mortgage application volume reached 906.4, an increase of 28.4 percent on a seasonally adjusted basis, up from 706 one week earlier. On an unadjusted basis, the index increased 64.8 percent compared with the previous week, which was shortened by the New Year holiday and was up 39 percent compared with the same week a year ago.

The refinance share of mortgage activity increased to 62.7 percent of total applications, up from 57.7 percent the previous week.

Adjustable-rate mortgages were only 9.2 percent of total applications.

Meanwhile, mortgage rates slipped during the week. They were:

30-year fixed-rate mortgages decreased to 5.62 percent from 5.73 percent.
15-year fixed-rate mortgages decreased to 5.07 percent from 5.21 percent.
1-year ARMs decreased to 5.77 percent from 6.04 percent

Source: Mortgage Bankers Association (01/16/08)

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"Thanks to Don Wixom, we have been enjoying our new home for six months now. Don as the realtor selling our house worked very hard for us. He helped us through all the complex paperwork involved in making offers, getting a loan, etc. Don paid attention to detail and kept us well informed about how things were going. When things needed to be done, Don was readily available, seeing us through a home inspection, even crawling under the house in the dirt and cobwebs when we asked him to. Don was always only a phone call away. We still remember his phone number, we called him so much! Don has a wealth of experience and resources to offer. We would definitely recommend him to anyone wanting to buy or sell real estate."
~Scott and Naomi Watson, satisfied buyers

"We were long distance buyers. We had been through some major life changes in 2005 and had first contacted Don Wixom in August of 2006. He stood by us 2 1/2 years showing us houses, driving out to houses and emailing us pictures when we were unable to go ourselves, never knowing if he actually would have gotten a sale from us and he never complained or pressured us once.
He always treated us with great respect as if we were his only customer. Don has done more for us than we would have done for ourselves. He gave us great advice. He was always learning what it was that we were looking for. As our needs changed midway through our searching he adjusted to them.
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When buying or selling in Idaho we would never consider anyone but Don Wixom. He stayed with us for the long haul and we will stay with him."
Steve and Jean McBee, Buyers Nampa

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Ernie Garza, Buyer