According to the Mortgage Bankers’ Association, the number of home mortgage applications is up 23.1%, largely due to a sudden increase in refinancing demand.
The MBA reports that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 4.06% from 4.1%, the lowest 30-year fixed rate in the history of the MBA Survey.
For a complete breakdown on current interest rates, read the complete article at agbeat.com.
Jeff Mateja is the CEO/REALTOR at Universal Properties at Keller Williams Realty in Portland, Maine, and founder of ILovePortlandMaine.com, a blog about everything Portland, Maine, and beyond. Jeff also offers two premier home search tools for Buyers via FindPortlandHomesNow.com and FindMaineHomesNow.com. If you would like further information on any blog topics, please e-mail Jeff Mateja.
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