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 |
| Monthly payment: | $906.03 | $1283.42 | $913.18 |
| 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.
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