Tuesday, December 14, 2010

Rates, loan applications up for fear of missing the boat

An interesting article from the Calculated Risk blog, which notes an increase in mortgage applications in concert with the increase in mortgage rates, possibly showing some urgency in the housing market as people are afraid of missing "the perfect time to buy" for fear of future rate increases.

The seasonally adjusted Purchase Index increased 1.8 percent from one week earlier. This is the third weekly increase for the Purchase Index which reached its highest level since early May 2010, when the tax credit was expiring.

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