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Purchasing and refinance activity thrive amid low rates

from Eye On Housing

Purchasing and refinance activity thrive amid low rates Eye On Housing As the Mortgage Bankers Association's 30-year fixed-rate mortgage rate reached a new historic low of 3.3%, sliding down by 8 basis points from the previous week, its benchmark Market Composite Index increased by 8% from the previous week, on a seasonally adjusted basis. Purchase applications increased to the highest level in over 11 years and for the ninth consecutive week. Refinancing activity also posted gains, not only on a weekly basis, but also on a year-over-year basis. READ MORE

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