This AP article gives a look at what’s going on in the housing market from a different angle – lender mortgage applications -- than our usual market statistics:
“Earnings reports from two major banks Friday painted a picture of a healing housing market, with more Americans taking out mortgages, paying them on time and taking advantage of low interest rates to refinance.
At JPMorgan Chase, the biggest bank in the United States, income from new home loans set a record from January through March. The bank issued 6 percent more mortgages than a year ago and got 33 percent more applications.
Wells Fargo, which issues the most home loans, booked the most mortgage fees since 2009. It issued54 percent moremortgages than a year ago and took84 percent more applications.”