Mortgage applications jump up 11% according to the MBA. U.S. mortgage applications rose for the first time in three weeks as near record-low interest rates spurred demand for home refinancing and purchase loans, data from an industry group showed on Wednesday.
Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell from the previous week to 5.03% with an average 0.7 point for the week ending March 12. In the previous period, the average was 5.15%, and the year-ago average was 6.13%.
You would think the market has been stimulated but then this just in...
New home sales fell 10.2% in January to the slowest pace since records began in January 1963 while pending existing home sales slowed by 7.7%, the weakest since the series began in January 2001.
Our new President has asked consumers to restore faith in our economy. Many people
are trying to refinance as stated in my first paragraph, but, that doesn't mean they get the loan. Consumer confidence is down for a reason.
-Christopher Rockey
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