Bank of America mortgage applications jumped 80% in Q1, executive says

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Bank of America mortgage applications jumped 80% in Q1, executive says

//business-finance.news-articles.net/content/202 .. applications-jumped-80-in-q1-executive-says.html

Published in Business and Finance on Thursday, March 27th 2025 at 17:41 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Bank of America saw an 80% jump in mortgage applications between January and March as buyers were tempted by increasing home inventory and lower long-term bond yields, an executive said.

2025-03-27 248 x 130 / 8205 Bytes

The article from MSN discusses a significant increase in mortgage applications at Bank of America during the first quarter of the year. According to a Bank of America executive, mortgage applications surged by 80% compared to the previous year. This spike is attributed to a combination of factors including a slight decrease in mortgage rates, which made borrowing more attractive, and a robust housing market despite economic uncertainties. The executive also noted that the bank has been focusing on improving its digital application process, which has likely contributed to the ease of applying for mortgages, thereby boosting application numbers. This trend reflects a broader recovery in the housing sector as consumer confidence in the economy begins to stabilize.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/topstories/bank-of-america-mortgage-applications-jumped-80-in-q1-executive-says/ar-AA1BLjHi ]