Mortgage Applications on the Rise
Mortgage applications are on the rise as of last week, but not the typical type of application. Applications for new mortgages are still suffering, obviously; but those seeking to refinance continue to increase. No surprise there really.
in fact, refinancing apps made up for just about half of all mortgage applications filed last week. That should be a good indication of the market for you. More and more people are trying to rescue themselves from their adjustable-rate mortgage gone wrong.
