Good News for Housing and Mortgages – Parker Colorado Homes

Market update positive news for interest rates.

USA Today has a story out about the housing market and mortgage industry. Positive news is always great for home buyers and home sellers. Low rates keep Parker, Colorado homes moving and business stronger.

Mortgage demand rises as 30-year rate ducks back below 5% – Mortgage applications rose for the first time in four weeks, reflecting a jump in demand for home refinancing loans as interest rates on 30-year loans dropped below 5%.  The average rate on 30-year fixed-rate mortgages fell below 5% for the first time in four weeks, according to the Mortgage Bankers Association.  It was 4.97% for the week ended Oct. 30, down from 5.04% the week before.  The MBA said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, rose 8.2%.  Its refinance index increased 14.5% from the previous week and its purchase index decreased 1.8%.
http://www.usatoday.com/money/economy/housing/2009-11-04-mortgage-apps_N.htm