Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

US survey reveals latest mortgage surge

20 January 2010 Reporter

Home loan borrower and refinance applications have surged in the US, according to a recent survey.

The Mortgage Bankers Association today released its survey on mortgage growth. The Market Composite Index, a measure of mortgage loan application volume, increased 14.3 percent on a seasonally adjusted basis since last week.

The Refinance Index increased 21.8 percent from last week’s adjusted index.

The surge may be attributed to borrowers locking in fixed interest rates, which had fallen in recent times

Advertisement
Advertisement

In the US, the average contract interest rate for 30-year fixed-rate mortgages dropped to 5.13 percent from 5.18 percent.

And for 15-year fixed-rate mortgages, the average contract interest rate fell to 4.45 percent from 4.62 percent.

US survey reveals latest mortgage surge
default
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.