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Mortgage Rates Decline
Applications for home loans rose last week as consumers raced to refinance at the lowest rates in decades.
The Mortgage Bankers Associations said Wednesday that overall applications increased nearly 7 percent from a week earlier. While they have been increasing in recent weeks, they remain below early 2009 levels.
Applications to refinance home loans were up 9 percent to the highest level since May 2009. But new mortgages taken out to purchase homes fell 2 percent.
Those applications have fallen in eight out of the last nine weeks, after government tax credits that spurred home sales ended on April 30. Applications were 35 percent below last year’s levels.
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This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Mortgage Rates Decline drive increase in Mortgage Applications is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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