Home Loan Rates Drop
A recent mortgage lending survey offered a bird’s eye view of the home financing activity involving mortgage bankers, commercial banks and thrift and loan companies. In a recent article, Jason Cardiff told Mortgage Related News that he anticipates that the FHA mortgage rates could decline to 4.5% or even 4.25%.
Jason Cardiff also said, “The Federal Reserve has made its move to pump more blood back into the housing sector.” The index was 876.9, up from 723.4 a week earlier, the trade group said. Almost 73% of mortgage applications came from borrowers seeking to mortgage refinance loans at reduced interest rates, not home buyers. See the original article > Mortgage rates Decline as Refinance Applications Rise