Home Buyers Take Advantage of Record Low Rates

Home buyers are taking advantage of record low mortgage rates. Rates have hit a 5 decade low and home buyers are seizing this opportunity to purchase a home with a low mortgage rate. Mortgage applications were up 3.4% since last week.

Refinance applications were also up last week. Refinance applications were up 9% last week and over 30% for the last month.

Home buyers and home owners are seeing these rates as an opportunity to obtain cheap money. If you interested in buying a home or have a loan you should speak with your mortgage professional to see if there is a benefit for your situation.