The Mortgage Broker's Association reported today that refinance applications dropped about 15% from last week, while mortgage applications dropped 10%. This drop has been attributed to a lack of borrowers who can qualify for refinances, and also those with a desire to try. With unemployment not looking to improve any time soon and mortgage rates set to rise because of the Fed's mortgage-backed securities program coming to an end, lets hope this numbers aren't here to stay.
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate
Yoy're absolutely right Christine, lets hope this is not the start of a trend. If the unemployment figures start getting better, everything will get better.
Jan 28, 2010 12:51 AM
American Capital Corporation - Laguna Beach, CA
Orange County Senior Loan Consultant
Thanks Malcolm, getting rid of unemployment is the key to everything at the moment!
Jan 28, 2010 06:21 AM
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