Homeowners Still Want Fixed Rates, Consolidations Expected

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Mortgage Applications for the week ending January 13 were up 2.2 percent over the previous week, according to today's survey results reported by the Mortgage Bankers Association. Although purchase applications fell off 3.0 percent from a week prior, the overall increase in volume was fueled by a 9.9 percent increase in the Refinance Index."Long-term rates have been falling since November. This has provided homeowners the opportunity to refinance into the safety of fixed, long-term rates without any appreciable change in their mortgage payment," says Bob Walters, Chief Economist of Quicken Loans, the nation's largest online retail lender. "Also, we expect to see the trend in refinancing to include consumers who have accumulated holiday credit card debt and are using their home equity to consolidate that debt." Quicken Loans closed $16 billion in volume in 2005.  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 - 2006 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 3199 2006-01-18 17:27:17

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