For the week of May 6, 2011 Mortgage Purchase applications rose for both new purchases and refinancing. Purchases were up 6.7% and refinancing up 9.0%. With the current interest rates sitting at about 4.75% it has become an enticing time for current home owners and new buyers to take on a mortgage or refinance for a better rate. This may be a sign of confidence for new home owners to take on new risk or it may just be a matter of opportunity.
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