Posted by dickb/wi on 10/5/06 12:39pm
Msg #150505

interestin article.........



Daily Real Estate News | October 5, 2006
Refinancings Drive Mortgage Applications
The Mortgage Bankers Association's home loan application index rose to 633.9 for the week ended Sept. 29, a seasonally adjusted increase of 11.9 percent from 566.5 a week earlier.

Requests to refinance existing mortgages climbed 17.5 percent to 46.7 percent of all applications from 44.3 percent the previous week.

"Refinance applications continue to increase as mortgage rates have declined to their lowest levels since the beginning of the year," says Mike Fratantoni, senior director at MBA.

Applications for purchase loans were up 7.6 percent.

Source: Chicago Tribune (10/05/06)

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