Mortgage and Refinance applications go up as Rates decline

Shared by Samantha on Wed Apr 16, 2008 5:36 am
As interest rates on 30 year fixed rate mortgages dropped down to 5.74% from 5.78%, the mortgage application volume went up by 2.5% during the week ending April 11. Traditional 15 year FRMs, a popular option for refinancing also recorded a low rate as a result of which refinance applications also moved up in volume. Source: http://www.forbes.com/feeds/ap/2008/04/16/ap4895437.html

Community Members Opinion

jerry

Joined: 17 Oct 2005

Moderator
Posts: 539
Location: MICHIGAN

49.64 Dollars($)

Posted: Wed Apr 16, 2008 5:52 am Post subject:

This is great news samantha! then we can expect more of first time buyers now.

Niicss
Niicss

Joined: 03 Oct 2005

Posts: 807

118.37 Dollars($)

Posted: Thu Apr 17, 2008 3:54 am Post subject:

This is really good news Samantha. The 15 year FRM is now available at 5.31 percent. So this is again a good time to refinance and turn the ARMs to FRMs


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