Home Purchases Still Strong, Long-Term Rates Still Low

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Today's Mortgage Bankers Association's Weekly Mortgage Applications Survey showed that for the week ending Dec. 16, the Market Composite Index, which measures mortgage loan application volume, decreased 4.0 percent from the week before.The seasonally-adjusted Purchase Index decreased by 5.2 percent from the previous week. Refinance activity, according to the Refinance Index, increased to 41.7 percent of total applications up from 40.2 from last week."The Housing Starts Report yesterday showed an incline from the prior month, so evidently home purchases remain strong," said Bob Walters, chief economist, Quicken Loans. "And with long-term interest rates within range of historically low rates, homeowners still have the opportunity to refinance from adjustable rate mortgages into long-term, fixed-rate programs."  Mortgage News Home Current Headlines Next Article  Refinancing | Home Loans | Home Equity Loans | My Quicken Loans Login Mortgage News | Mortgage Rates | Mortgage Calculators | Apply Online About Us | Careers | Contact Us | Feedback | Site Map | Help | Search Security and Privacy | Disclosures and Licenses | Terms of Use © 2000 - 2005 Quicken Loans Inc., All rights reserved. Lending services provided by Quicken Loans Inc., a subsidiary of Rock Holdings Inc. “Quicken Loans” is a registered service mark of Intuit Inc., used under license. Build 3073 2005-12-21 12:50:04

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