Purchase loan apps edge up, as mortgage rates hit 4-month low by Elaine360

Elaine Golden Gealer, Brentwood condos, Brentwood townhomes, Brentwood real estate, Brentwood new construction, Brentwood condominiums, Westwood condos, Westwood townhomes, Westwood real estate, Westwood new construction, Westwood condominiums, Westchester condos, Westchester townhomes, Westchester real estate, Westchester construction, Westchester condominiums, Toluca Lake condos, Toluca Lake townhomes, Toluca Lake real estate, Toluca Lake construction, Toluca Lake condominiums, North Hollywood condos, North Hollywood townhomes, North Hollywood real estate, North Hollywood new construction, North Hollywood condominiums, Sherman Oaks condos, Sherman Oaks townhomes, Sherman Oaks real estate, Sherman Oaks new construction, Sherman Oaks condominiums, Encino condos, Encino townhomes, Encino real estate, Encino new construction, Encino condominiums, Beverly Hills condos, Beverly Hills townhomes, Beverly Hills real estate, Beverly Hills new construction, Beverly Hills condominiums, West Los Angeles condos, West Los Angeles townhomes, West Los Angeles real estate, West Los Angeles new construction, West Los Angeles condominiums, West Hollywood condos, West Hollywood townhomes, West Hollywood real estate, West Hollywood new construction, West Hollywood condominiums, Santa Monica condos, Santa Monica townhomes, Santa Monica, real estate, Santa Monica new construction, Santa Monica condominiums, San Fernando Valley condos, San Fernando Valley townhomes, San Fernando Valley real estate, San Fernando Valley new construction, San Fernando Valley condominiumsApplications for purchase loans climbed modestly last week, nearly reaching their year-ago level, as interest rates hit a four-month low, the Mortgage Bankers Association (MBA) reported.

Applications for purchase loans increased a seasonally adjusted 2 percent for the week ending Oct. 25 compared to a week earlier and were down 0.1 percent on an annual basis, according to the latest Mortgage Bankers Association’s Weekly Mortgage Applications survey.

During the same period, refinance applications climbed 9 percent from a week earlier, the trade group reported.

The drop in mortgage applications came as the average rate for a 30-year-fixed rate mortgage with a balance of $417,000 or less dropped to 4.33 percent from 4.39 percent a week earlier.

That was the lowest rate recorded by the MBA sine June of this year.

Elaine                                                     
DRE #00598428
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed

“Fewer properties for sale with such remarkably low interest rates make it a great time to sell but a more difficult time to buy”

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