Despite major shutdowns across the country to stem the coronavirus outbreak, more homebuyers ventured forward on their house purchases last week.California and Washington showed continued increases in purchase applications, while New York also experienced a significant bump after declines in five of the last six weeks.
‘Uptick in purchase applications’Digital mortgage lender Better.com also reported a 36% increase year-over-year in April purchase applications. The top state was California, which made up 14% of the month’s total purchasing volume. Among lenders surveyed nationwide, the MBA reported a 17.2% spike in California mortgage applications, compared with a 2.9% increase the week before. Washington and New York witnessed increases in purchase applications of 16.1% and 13.7%, respectively.
“I just closed three deals through virtual board interviews, one in Zoom,” said Christopher Totaro, an agent at Warburg Realty. “But mountains were moved to facilitate logistics.”
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Source: CNBC - 🏆 12. / 72 Read more »