Refinance Prescott, WI - Refinance Activity Reaches Three Year High

By
Mortgage and Lending with Bridgeview Bank

According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity rose 2.0 percent last week, reaching its highest level since April 19, 2009. The increase followed a 22 percent surge the week before and pushed the refinance share of total mortgage activity up to 81 percent. But, despite the gains in refinance demand, the Market Composite Index, which measures total mortgage loan application volume, was up just 0.9 percent due to a 3.0 percent drop in the seasonally adjusted Purchase Index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was unchanged, resting at 3.74 percent. It is the second consecutive week that average mortgage rates were at all-time survey lows.

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Topic:
Lending / Financial
Location:
Wisconsin Pierce County Prescott
Tags:
interest rates
lender
fha
rates
bank
freddie mac
fannie mae
prescott
wi
conventional
lower payment
va
streamline
mortgage
refinance

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Ryan Magee1

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