Demand for New Loans Up 16.4% as Rates Hold Below 5.00%
Mortgage rates held below 5.00 percent for the third consecutive week helping refinance and purchase loan demand increase, according to a weekly report released by the Mortgage Bankers Association (MBA) this morning.
The MBA said, in the week ending October 2, 2009, the average mortgage rate for 30-year fixed-rate loan fell 5 basis points to 4.89 percent from 4.94 percent. That in combination with the soon to expire $8,000 tax credit for first time home buyers helped mortgage application volume increase by 16.4 percent in the week….(read more)
Related posts:
- MBA: Mortgage Rates Hold Below 5.00%. Loan Demand Falls
- Fannie and Freddie: Lending Rates Hold Below 5 Percent
- Purchase Apps Extend Tax Credit Trend. Low Downpayment Loans Fuel Buyer Demand
- Freddie Mac Says Mortgage Rates Rebounded from Year-End Highs
- ABA Reports Delinquencies Improve Despite some Housing Loans
