Home | Newsletter | Advertise
loading...

Low Rates Lead To Highest Level of Refinancing Since 2009

  • August 1st 2012

by Shilpi Paul

✉️ Want to forward this article? Click here.

Low Rates Lead To Highest Level of Refinancing Since 2009: Figure 1

Mortgage applications for homeowners refinancing have reached their highest level in three years, reported Housing Wire and The Wall Street Journal this morning.

According to the Mortgage Bankers Association Weekly Mortgage Applications Survey, the refinance index grew 0.8 percent week-over-week, reaching levels not seen since April 17, 2009. Overall, mortgage applications are up 0.2 percent.

As we reported last week, the average on a 30-year fixed mortgage hit an all-time low of 3.49 percent. While this seems to have led to a burst of refinancing action, the home purchase index actually fell 2 percent and analysts saw the report as a “sign of general malaise in the mortgage lending market.”

From the Wall Street Journal:

While low rates have convinced many homeowners to refinance their mortgages, tougher lending requirements still keep many prospective home buyers from taking out new debt.

Similar Posts

See other articles related to: mortgage bankers association, refinancing

This article originally published at https://dc.urbanturf.com/articles/blog/low_rates_lead_to_highest_level_of_refi_since_2009/5850.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse