Mortgage applications rebound
Mortgage applications made a nice rebound to the highest level since May. Helping applications along the way has been falling mortgage rates, and once again rates have broken below 5%, (today’s rate for, Wednesday September 23, 2009 is 4.75% for the 30 year fixed) leading to a resurgence of refinancing activity.
Not only that, but purchase applications, which generally herald new home sales, are showing signs of forming an uptrend. If interest rates stay within this current range (4.75%-5.375%), I would expect to see the real estate market continue it’s recovery.
Need more information? Call Joe Elizondo of Northeast Financial at 323-256-7833 or email Joe at neast-financial @ sbcglobal.net.
September 23, 2009 | Filed Under Mortgage Rates | Need more information? Call Joe Elizondo of Northeast Financial at 323-256-7833 or email Joe at neast-financial @ sbcglobal.net
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