A big drop in mortgage rates led to a big jump in mortgage applications -- just in time for the summer buying season.
Real estate agent Mike Weaster with Berkshire Hathaway says the Houston market is jumping.
"The lower interest rate is definitely making people come out and apply for loans and it's definitely showing in the marketplace."
Weaster says this is typically a busy time for home buyers.
"Summer's always been a good time to buy homes; school's out, kids are out, everybody wants to look for new homes to get settled in before the new school year."
The interest rate for a 30-year fixed mortgage is close to four percent. It was close to five percent a year ago.
"With the rate drops the buyers that have been waiting see a good opportunity to get a good rate for a mortgage and it's only benefiting the sellers in the market."
Weekly mortgage applications soared nearly 27% in just one week.