As reported by the IBJ Real Estate Weekly, on a seasonally adjusted basis, the pace of the mortgage loan activity increased 8.5% for the week ending 12/04/09, according to the Mortgage Bankers Association. Rates for 30-year loans increased to 4.88% from 4.79% the previous week. Fifteen-year mortgage increased to 4.33 % from 4.27%.
“…These increases may seem minimal, but the upward trend in financing plus the extended tax credit programs should bolster our first quarter activity…”
Submitted by David Brenton
Source: IBJ Weekly