"Application volume increased as interest rates were mixed. The average interest rate for traditional, 30-year fixed-rate mortgages increased to 5.61 percent from 5.6 percent. The average interest rate for 15-year fixed-rate mortgages, an option popular for refinancing a home, increased to 5.09 percent from 5.04." - MSNBC
The positive news some home owners have been awaiting was announced a couple of weeks ago. The Fed lowered interest rates considerably and mortgage rates have come down. Many who held out are either refinancing or moving into home purchases with improved home financing. It rose 3% during the week.
Topic Category: General Real Estate News