Found this at Inman News--a slight decrease in refi's, but hardly worth
mentioning. And all the talk about rising interest rates makes me smile;
these are fantastically good rates we have today. Those who are envious of
the profit homeowners are making on appreciation should stop being envious
and just make an investment. In many areas, historic, current, and
predictable future appreciation is greater than current interest rates.
Paying less than seven percent interest on the banks money while getting
eight or greater percent appreciation on the total value of the investment
is a solid financial move.
Real estate purchases jump
Refinancings lose market share
Wednesday, November 09, 2005
. . . . The refinance share of mortgage activity decreased to 41.7
percent of total applications from 43.6 percent the previous week. The
adjustable-rate-mortgage share of activity increased to 31.6 percent of
total applications from 29.4 percent the previous week.
The average contract interest rate for 30-year fixed-rate mortgages
increased to 6.31 percent from 6.21 percent one week earlier. Points
including the origination fee increased to 1.37 from 1.27 for 80 percent
loan-to-value ratio loans.