Mortgage rates continue to fall. Yet buyers aren't lining up for loans as many had hoped. A few days ago, I blogged on a conversation I had with mortgage lender, Pat Thompson, from Farmer's State Bank in Mason City. He mentioned he's seeing a lot of interest in refinancing applications and some interest in actual mortgage applications. A few days later, the Mortgage Bankers Association announced for the week of January 9th, more than 85% of its applications involved refinancing. Here's a related article from USA Today.
http://www.usatoday.com/money/economy/housing/2009-01-14-mortgage-applications_N.htm
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