jump to navigation

Mortgage applications increasing March 19, 2007

Posted by Jay Medina in News and Information.
trackback

Despite a generally sluggish market, mortgage applications are rising, according to a report from the Mortgage Bankers Association. At the end of February, applications were up 8.8 percent over the same week a year ago.

Applications for mortgages to finance the purchase of a home increased 5.2 percent during the week ending February 23, compared to the previous week. Refinance mortgage applications increased 1.2 percent from the previous week. It appears the market is strengthening. The average interest rate for a 30-year fixed-rate mortgage lowered to 6.16 percent on March 1, down from 6.19 percent during the previous week, according to MBA. The average rate for a 15-year fixed-rate loan is down to 5.84 percent. These are rates for 80 percent LTV loans.

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: