Housing Mortgages Information

Mortgage Applications Rebound as Rates Reach Four Month Low

September 23, 2009 – 4:06 am Mortgage rates fell below 5% for the first time since mid-May last week, leading to increased appetite for refinancing, new loans, and purchases, an industry survey said Wednesday. The triple-front increases follow a soft performance in the holiday-shortened week before. The Mortgage Bankers Association said the average mortgage rate fell to 4.97% in the week ending September 18. That, in combination with the $8,000 tax credit for first-time home purchasers expiring at the end of November, helped mortgage loan application volumes Index expand by 12.8% in the week....(read more)