Housing Market Sees Early Spring Thaw

Mortgage applications are up, boding well for spring home sales.
Mortgage applications are up, boding well for spring home sales.

Selling a house? There might be more people willing to buy, according to a good omen from the Mortgage Bankers Association (MBA).

More people applied for loans to buys homes last week than any time since last Fall, according to the MBA's Market Composite Index, a measure of mortgage loan application volume. The seasonally-adjusted index for the week ended March 26 increased 1.3 percent from the previous week.

That's welcome news, following months of declining sales of new and existing homes. Industry-watchers attributed the jump to the upcoming expiration of a federal tax credit for new home purchases. The credit is set to expire at the end of April.