The US may be popular among international mortgage applicants

Wed, 25 Jan 2012
The US may prove a popular choice among international mortgage applicants looking to set up a new life abroad, as demand for home loans in the country appears to be high.

According to data from the Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending January 13th, approaches for deals jumped 23.1 per cent when compared with the previous seven day period.

Michael Fratantoni, vice-president of research and economics at MBA - which has more than 2,400 member companies - noted the uncertain situation in the eurozone and the heightened anxieties caused by it resulted in interest rates in America witnessing a marked drop.

The industry figure stated: "With mortgage rates reaching new lows, refinance volume jumped and MBA's refinance index reached its highest level in the last six months."

Those considering their international mortgage options may wish to keep a close eye on events in the US in order to identify a good time to relocate.

Mr Fratantoni added purchase activity also rose as a result of people returning to the market after Christmas and New Year.
 
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