Finance Articles

Internet Mortgage Site Sees Increase in Mortgage Applications

Carlsbad, CA (PRWEB) February 2, 2008 -- Direct Mortgage Pro, an Internet mortgage provider based in Southern California, is seeing a noticeable increase in the number of applications they received so far this year. The increase in applications is no surprise, though; their statistics are consistent with requests for home loans and other financing options around the nation.

The number of mortgage applications in the United States went up by 7.5 percent during the week ending on January 25, 2008, according to the Mortgage Bankers Association. Experts say the jump in applications for home loans was also pushed by an increase in applications for other financial options, such as refinancing. The number of refinancing applications in the nation increased by a whopping 22.1 percent, which is a much higher increase compared to direct mortgage applications.

The team at Direct Mortgage Pro, who specialize in Internet mortgage financing, say they were pleased to see an increase in applications despite rising interest rates. The average rate for a traditional, 30-year fixed-rate mortgage program rose to 5.6 percent from 5.49 percent. The average rate for a 15-year fixed-rate mortgage program, which is often used to refinance, rose to 5.04 percent from 4.95 percent. The average rate for a one-year adjustable rate mortgage program increased to 5.7 percent from 5.51 percent.

Many realty experts say now is a good time to buy with the right mortgage program, though, because the cost of homes is dropping.

For more information about the Internet mortgage programs that are available, visit www.directmortgagepro.com

About Direct Mortgage Pro:

Direct Mortgage Pro works with each individual to determine what mortgage program and rates would be best for their unique situation. They specialize in creative financing options that allow the borrower to take control of their funds and lower their monthly payments. Direct Mortgage Pro believes that getting the best rates and terms on a mortgage should not be a stressful, time-consuming process. For home buyers that are running out of time and are tired of keeping track of all the lenders they've contacted, they can provide what they need, when they need it; now.

Contact:

Shane Copeland

858-342-1417

Carlsbad, CA 92008

Direct Mortgage Pro

www.directmortgagepro.com

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