General World News

Mortgage applications drop, but spring buying season looms

After a slight increase in late February, mortgage applications dipped 1.3% in the week ending March 5, according to the latest report from the Mortgage Bankers Association. But experts aren’t concerned.

With spring approaching – signaling the start of a busy buying season – the purchase market sported its strongest showing in four weeks, with gains in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting.

“Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan details ⇒

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