I find it very interesting that the mortgage applications are up again, second consecutive week. Applications rose as interest rates continued to fall.
The average interest rate for traditional, 30-year fixed-rate mortgages fell to 5.62 percent from 5.73 percent. The average interest rate for 15-year fixed-rate mortgages — which are typically used to refinance loans — fell to 5.07 percent from 5.21 percent.
Rates for one-year adjustable-rate mortgages fell to 5.77 percent from 6.04 percent
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