This morning’s MBA Weekly Mortgage Applications Survey reported a 1% decrease in refinance mortgage applications, with purchase applications increasing 1% from the previous week. Quicken Loans economist Bill Banfield offers the following comments on the report:
“With the government shutdown behind us and interest rates remaining steady, look for mortgage activity, especially on the purchase side, to pick back up. Not to be overlooked, there are still millions of underwater homeowners who could benefit from refinancing through HARP and have yet to do so.”
If you would like to speak to Bill about current mortgage activity please contact us.