Industry NewsMortgage

Mortgage rates nearing record lows

Loan applications up in latest survey
Published on Feb 20, 2009

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by CareyBot

The average rate on 30-year fixed rate mortgages this rate continued to fall to near the 5 percent mark, close to the record low seen a month ago, Freddie Mac said.

In a separate report, the Mortgage Bankers Association said mortgage applications jumped 45.7 percent for the week ending Feb. 13 compared to the week before. The increase was largely driven by a 64.3 percent in applications for refinancings, but applications for purchase loans were also up a seasonally adjusted 9.1 percent.

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