Loading ...Refinance Applications Pour In!
January 23rd, 2008 by Tyler | 276 views |
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Refinance applications rose 16.9% during the week ended January 18, 2008 compared to the previous week, and are up 92% since November 2007. Purchase applications are up 7% during the same period. Also, the 4-week moving average for all loan applications increased 13.7% compared with the same period a year ago.
The average interest rate for the 15-year fixed-rate mortgage was 4.96%, down from 5.07%. The 30-year fixed-rate mortgage was 5.49%, down from 5.62%. The rate for a one-year ARM was 5.51%, down from 5.77%.
The cause for this is because interest rates are at an all time low right now. With so many houses available on the market right now, buying a home becomes a lot more comforting with these kinds of rates!
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This entry was posted on Wednesday, January 23rd, 2008 at 5:00 pm and is filed under Home Mortgages, Interest Rates, Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
