Skip to content
Digital News Report Logo
Menu
  • News
  • Business
  • Science
  • Entertainment
  • Health
  • Sports
  • Audio Books
  • Quizzes
  • Videos
Menu

Home » Business » Home Mortgage Refinance On Rise

Home Mortgage Refinance On Rise

By Tina Brown on May 30, 2010
alt text

Digital News Report

Digital News Report – Low interest rates may be benefiting homeowners. While home purchases are lower, the number of homeowners refinancing has increased. Purchase demand is near a 13-year low but the low interest rates have renewed interest in refinance mortgages.

Both the Mortgage Bankers Association and Freddie Mac, a government sponsored enterprise, have said that rates are near historic lows. The homebuyer tax credit has expired so lenders are focusing on home equity refinance loans.

The MBA said its seasonally adjusted index of mortgage applications increased 11.3 percent for the week ended May 21. These included both refinance and purchase contracts.

The budget crisis in Europe may be causing lower rates, according to Michael Fratantoni, MBA’s Vice President of Research and Economics. The crisis has caused turmoil in the financial markets. “In contrast, purchase applications fell further this week, following last week’s sharp decline, keeping the purchase index at 13-year lows,” Fratantoni said.

By: Tina Brown

  1. Mortgage Bankers Association Says Purchases Higher But Refinancing Lower
  2. Is it time to Refinance a Home Mortgage Loan?
  3. Refinance Home Loan with Government Home Affordable Refinancing Program
  4. Mortgage Loan Lenders report increase on Home Loan Application and Refinancing
  5. Refinance Loan Rates Continue to Rise

Live Results Search

Categories

Important Information

This site is for informational purposes only.  Always check with your doctor or  legal council before making any medical or legal decisions.

loader-image
San Francisco, US
1:19 am, May 14, 2025
temperature icon 52°F
clear sky
Humidity 85 %
Pressure 1017 mb
Wind 12 mph
Wind Gust: 18 mph
Visibility: 10 km
Sunrise: 6:00 am
Sunset: 8:11 pm
Weather from OpenWeatherMap

 

©2025 Digital News Report | Design: Newspaperly WordPress Theme