US Home Loan Demand Rises as Rates Hit New Low

September 1st, 2010

Written by Greg Frost Jr.

Categories: Economy, Home loans, News

According to the Mortgage Bankers Association, loan applications for buying a home or refinancing rose 2.7 percent last week as interest rates sank to a new low. The four-week moving average of mortgage applications, meanwhile, was up 5.2 percent. Refi demand gained for a fifth consecutive week, which some economists hope will provide a sorely needed boost to a struggling economy in the form of increased consumer spending.

Reuters (09/01/10) Haviv, Julie

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