From Realtor Magazine Online, Daily Real Estate News April 1, 2009
Mortgage applications continue to rise as rates slide. The weekly mortgage application index compiled by the Mortgage Bankers Association rose 3 percent last week to 1,194.4 from 1,159.4 on a seasonally adjusted basis.
On an unadjusted basis, the index increased 2.9 percent compared to the previous week and was up 68.8 compared to the same week last year.
The refinance share of mortgage activity is driving the increase, rising to 79.1 percent of total applications, up from 78.5 the previous week.
Fixed rates are at or near record lows:
● 30-year fixed-rate mortgages decreased to 4.61 percent from 4.63 percent.
● 15-year fixed-rate mortgages decreased to 4.45 percent from 4.48 percent.
● 1-year ARMs decreased to 6.20 percent from 6.22 percent.
Source: Mortgage Bankers Association (04/01/2009)
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