September 30, 2010

  • A d v e r t i s e m e n t
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Today’s weekly mortgage applications survey from the Mortgage Bankers Association might seem to offer a small glimmer of hope.

Yes, refinancings-which have been running at around 80 percent of all mortgage applications-fell despite a new record low average rate on the 30-year fixed of 4.38 percent.

Not so good.

But on the other hand, purchase applications rose 2.4 percent, largely driven by a 4.5 percent increase in government purchase applications (FHA).

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Great, except for that last part.

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