All good things must finally came to an end.

By
Real Estate Sales Representative with Exit Realty 1st Choice

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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