According to The Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage applications to purchase homes rose 1.5 percent from the week before. The average contract interest rate for 30-year fixed-rate mortgages fell to 4.60 percent, leading to a 1.3 percent bump in the Refinance Index. With rates hovering near record lows, refinancing activity has been up in five of the last eight weeks. More here and here.
Theresa Springer’s Blog
Purchase Demand Up For Third Straight Week
August 4, 2010
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