REAL ESTATE
More Mortgages: The number of new home mortgages in Orange County increased 31% through June of this year, compared to the same time last year, according to a real estate data company. In the 21 states surveyed, mortgage originations were up 25% because of a healthier housing market, said TRW REDI Property Data in Riverside.
In Orange County, 18,744 new mortgages were reported through June, compared to 14,207 the previous year. In California, the number of home purchase mortgages increased 24.5% from the same period last year.
“Initial indications are that a recent rise in mortgage rates has not had a significant negative impact on the housing market,” said Nima Nattagh, an analyst with TRW REDI. The average rate on a 30-year, fixed-rate mortgage during the first half of the year was nearly 8%, slightly above the 7.58% rate recorded during the same period last year.
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