Real Estate News from the We Buy Houses Team 

The US have seen a reduction in their fixed 30-year mortgage rates, the average is now down to 5.99 percent down from 6.07 percent a week previous.

According to data published by an industry group on Wednesday, application for US residential mortgages climbed last week as home loan rates came down, although the lending conditions remain tight due to the financial crisis countries around the globe are feeling that are still badly affecting the mortgage industry.

The Mortgage Bankers Association that they saw a rise of 2.2 percent in the week ending October 3 in the index of mortgage applications which is indexed seasonally. However the previous week mortgage activity fell 23 percent to the lowest level since the end of August.

More results showed the week ending October 3 saw a rise of 0.9 percent of application for loan refinancing, but tumbled 34.7 percent the previous week.

This entry was posted on Wednesday, October 8th, 2008 at 10:55 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.