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		Thomas Pasckvale President/Owner NMLS: 22859 Top Vine Mortgage Services, LLC Phone: 844-545-9251 Fax: 855-631-8856 Company NMLS: 1390034 tpasckvale@topvinemtg.com www.topvinemtg.com

June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014		Home Loan Volume Is Up From a Year Ago An increase in home loan rates in the first weeks of May resulted in a decrease in total home loan applications. When compared to last year, home loan application volume is still 12 percent higher than the same time a year ago, according to figures from the Mortgage Bankers Association (MBA). Of the total applications, the numbers were split nearly even between those wishing to buy homes, versus those refinancing existing loans. Many homeowners refinanced in attempts to significantly lower their monthly housing payments or shorten the duration of their home loans. The good news is that refinance opportunities are still available. Homebuying Remains Sure and Steady Contracts to purchase homes continued to grow in early spring. Pending home sales are 11 percent higher than one year ago and are at their highest since June 2013, according to March figures from the National Association of REALTORS® (NAR), whose reports have two months lag time. Demand is highest near and in major metropolitan areas experiencing economic growth. Even better news is traditional homebuyers appear to be replacing home investors who typically buy homes with cash. Home prices are, however, increasing and homes are selling faster. Rising home prices could be a pain point for some buyers as a result of a limited supply of available housing inventory, which is to blame for driving up prices. NAR's Chief Economist, Lawrence Yun, stated that in some parts of the country prices are increasing at a rate 4 or more times the pace of wage growth, which could prove difficult for prospective homebuyers and first-timers. What's Next Home loan rates remain favorable for both home refinances and purchases. If you or anyone you know has questions regarding refinancing, or wants to get ahead of the homebuying competition with a loan pre-approval, please get in touch today.

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