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Thursday, May 7th, 2020

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Posted by: | Posted on: May 7, 2020

Home-Loan Applications Ticked Up for a Third Week. There’s ‘Pent-Up Demand.’

A weekly gauge of home buyer interest ticked up for the third week in a row—a sign of “pent-up demand for home buying,” according to the organization that administers the survey.

The Mortgage Bankers Association’s Purchase Index, which measures the weekly volume of applications for loans to buy a home, rose 6% on a seasonally-adjusted basis and 7% on an unadjusted basis for the week ending May 1. In a news release, MBA chief economist Mike Fratantoni credited that week-over-week increase to “strong growth in Arizona, Texas and California,” which posted increases of 11%, 10.3% and 10.1%, respectively.

With state lockdowns only beginning to be eased, much is still unknown about how an economic recovery from the coronavirus crisis will take shape. But a third week-over-week increase in loan applications is a positive sign for the housing market. The survey is a regular pulse-check of buyer interest in residential

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Posted by: | Posted on: May 7, 2020

What Is a No-Fee Mortgage?

A no-fee mortgage sounds appealing—thanks to a lack of lender fees or closing costs. However, it comes with its own set of pros and cons.

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When you apply for a mortgage or refinance an existing mortgage, you want to secure the lowest interest rate possible. Any opportunity a borrower can exploit to shave dollars off the cost is a big win.

This explains the allure of no-fee mortgages. These home loans and their promise of doing away with pesky fees always sound appealing—a lack of lender fees or closing costs is sweet music to a borrower’s ears.


However, they come with their own set of pros and cons.

No-fee mortgages have experienced a renaissance given the current economic climate, according to

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