The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 9, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. QUICK RECAP : To quote Mike Fratantoni, MBA's Vice President of Research and Economics:"Applications for government mortgages dropped substantially last week, following the implementation of an increase in FHA mortgage insurance premiums," said "Applications for conventional mortgages also...(read more)

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