March 3, 2010
Loan Applications Jump As Rates Fall
By Matthew L. Brown
Mortgage loan application volume increased by 14.6 percent last week, according to the Mortgage Bankers Association's Mortgage Applications Survey.
The association said applications rebounded as interest rates fell back below 5 percent.
Applications to refinance represented 69 percent of all loan application volume. The average contract interest rate for a 30-year mortgage was 4.95 percent.
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