CHICAGO-Home loan applications increased last week as the loan rates of 15-year and 30-year fixed-rates dropped. The overall applications for home loans rose almost 7.6% from the previous week.
Applications for refinancing home loans and purchase of homes rose 8.6% and 3.4%, respectively. The average value for a 15-year fixed loan fell to 4.05% while that of a 30-year fixed loan dropped to 4.59%, the lowest rates ever registered in the survey of MBA. For the full story, go to Chicago Sun Times.
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