Dec
05

Mortgage Activity Doubled Last Week

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Mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association’s weekly survey.

The activity in a holiday-shortened week came as average rates on some fixed-rate mortgages tumbled more than a half percentage point.

Refinance volume more than tripled, while purchase volume increased 38 percent during the week. The average rate for traditional, 30-year fixed-rate mortgages decreased to 5.47 percent from 5.99 percent. The average rate for 15-year fixed-rate mortgages fell to 5.13 percent from 5.78 percent.

What I want to see is the percentage of applications that are approved……

Mike Dodds
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    Categories : National News

    Comments

    1. lance says:

      Yeah, EXACTLY!!

      /disgruntled mortgage guy