The average size of a mortgage purchase application increased 9% from December to March, up to...
The average size of a mortgage purchase application increased 9% from December to March, up to $233,300 from $214,500. This points to an improved appetite in borrowers for mortgage credit, notes Capital Economics' Paul Diggle. So logically, as higher-end buyers return to the market, volume should begin shifting to the higher price ranges, which in turn may give a much needed boost to the median price range as well.
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