New purchase applications up despite rate increase, trouble in refinances
The Mortgage Bankers Association reported a drop in refinance applications last week after Fixed Rate Mortgage (FRM) rates rose more than three-tenths of a percent and Freddie Mac’s Primary Mortgage Market Survey also showed an increase in rates, though only about half as large. The reports on Adjustable Rate Mortgage (ARM) rates were mixed. [...]
January 22 2009, 11:49pm | Original Link »
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