The Mortgage Bankers Association says applications for a new mortgage are flying out the door.
A thirty percent jump last week from the week before.
With people pinching their pennies this recession, why are more people looking for a new loan?
Lonnie Knob of Major Mortgage USA on F Road says the latest increase for new loans has been tremendous.
He says a lot of people, "are trying to take advantage of rates that are at their 52–week–low."
Make that historic lows, thirty year loans are at 30-year lows.
Current rates are clocked in at 4.85%.
People looking to refinance or can afford to buy a new place are trying to take advantage, including Major Mortgage itself.
Today, they showed off their brand new office which triples the size of their last place which they called a "sardine can."
The company planned for the new place years ago. but even the loan company had a hard time getting a loan.
All because of that pesky recession.
As if this were an episode of Ripley's Believe it or Not, the company, which deals in the housing and loan industry, is expanding!
The forty employee company says their new place is so big they plan on hiring more people to work there.
Major Mortgage USA is also showing off their new place with an open house tonight.
Head to their new office at 2474 F Road Suite 200. It is right down the street from their last palce of business. The event ends at eight o'clock tonight and anyone is welcome to attend.