Latest report also shows ARMs hit highest level since October 2014
By Ben Lane | HousingWire
The average loan size for purchase mortgage applications hit an all-time high last week, according to the latest data from the Mortgage Bankers Association.
The data comes courtesy of the MBA’s Weekly Mortgage Applications Survey for the week ending March 3, 2017, which showed that the average loan size for purchase applications was $313,300.
That’s the highest that figure has been during any week since the MBA began conducting its weekly application survey in 1990.
