Refi. Activity Skyrockets as Rates Fall
By VIP Admin on Mar 19, 2009 in Market News
Home loan applications shot up 21.2% to an 8 week high in the week ended March 13, said the Mortgage Bankers Association. Refinancing demand vaulted 29.6% as the 30 year fixed rate mortgage rate fell to 4.89%. Applications for mortgages to buy homes rose 1.5%. This should help stabilize the real estate market and home values as more people are able to enter the market and more people are able to refinance their homes and possibly avoid foreclosure.
1 Comment(s)
By birthday poems on Sep 19, 2011 | Reply
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