Rising rates sink refinances to two-year lowJuly 18, 2013 @ 8:13 am
Mortgage rates are on the rise, prompting fewer homeowners to refinance their mortgages, but the increase doesn't appear to be deterring homebuyers yet.
The lower refinance demand caused overall mortgage applications to drop 2.6 percent last week, the Mortgage Bankers Association reported. The MBA's survey covers about 75 percent of the residential mortgage market.
Meanwhile, loan applications for home purchases -- viewed as a leading indicator of future home sales -- inched up slightly by 0.5 percent for the week ending July 12.
Mortgage rates were at a two-year high last week, with the 30-year fixed-rate mortgage averaging 4.68 percent -- the highest level since July 2011, the MBA reported.
The Seahawks have released the 2014 regular-season schedule
Save the Buses?
A group is gathering signatures to save transit, but Michael Medved has another solution
21 and Over
If 21 is the legal age for alcohol and marijuana, why not cigarettes?
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.