According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.44 percent last week from 4.47 percent the week before. Despite rates near all-time lows, The Market Composite Index, which measures total mortgage loan application, was down 1.4 percent. Margaret Kelly, chief executive of RE/MAX, said she doesn’t believe the housing market will suffer another massive dip but feels it can’t fully recover without improvement in the jobs market. More here and here.
Theresa Springer’s Blog
Mortgage Rates Near All-Time Lows
September 22, 2010
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