New Mortgage Applications Up

New mortgage applications are up. Spurred on by record low mortgage rates new mortgage applications were up 3.4%. Refinance applications were also up 9% last week and about 30% over the past month.

Rates Drop Even More

30 year mortgage rates drop to a new low of 4.57%.  This may spark the housing market and an increase in refinance applications. Homeowners and home buyers may have the ability to receive some of the lowest rates in history.