I'll state 2 things that caught I feel are eye catching put of the sloppy mess of statistics.
This past week:
1. Mortgage rates rose modestly after falling to record lows the past two weeks.
2. Refinancing was up 3.2 percent, while applications for new purchases recorded their biggest jump of 2009 -- 11.1 percent.
These statistics were based on a weekly statistic report by BankRate.
Mortgage rates went up this week, after a 4 week slide that had sent rates to such low of lows that they hadn't been seen in more than 50 years!!
Weekly national mortgage survey
|Results of Bankrate.com's April 8, 2009, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:|
|30-year fixed||15-year fixed||5-year ARM|
|This week's rate:||5.20%||4.75%||5.27%|
|Change from last week:||+0.07||+0.02||+0.04|
|Change from last week:||+$7.12||+$1.70||+$4.09|
Applications for loans have modestly dropped after this new rise in rates. No surprise there.