Mortgage Application Rate Drops as Fewer Borrowers Refinance

By Kyle Chezum Updated on 12/8/2010

12/08/2010

Mortgage rates have begun to increase again, reaching levels unseen since July of this year. As a result, fewer borrowers are willing to refinance and the total mortgage application rate has decreased for the past four weeks straight.

New home purchase mortgage applications have seen an increase, however, as more and more buyers are encouraged to buy before rates spike too sharply.

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About The Author:

Kyle Chezum

My name is Kyle Chezum. I'm a Marketing Associate here at Lender411com. If you have any questions, feel free to contact me. Thanks!.

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