Mortgage Rates Dip, Demand Soars: A Surprise, It Is!

A Drop a Tiny One It Was

Hmm mortgage interest rates they have fallen yes. For the second week in a row a dip we see. But much it is not! Like sand through fingers slipping away a small change. The Force it seems is playing tricks on us hmm? Negative news on the economy there is a shadow looming. But fear not for hope remains a flicker in the dark.

Demand It Surges! Unexpected This Is!

Surprise surprise! Despite the darkness mortgage demand it rises! Up 11% according to the Mortgage Bankers Association. A surge it is! Like a young Padawan's sudden burst of power. Confusing it is but exciting too! Perhaps the Force guides these buyers hmmm?

Rates They Shift Slightly

The average contract interest rate for 30 year fixed rate mortgages it sits at 6.84%. A slight decrease from 6.89%. Points they increased a smidge to 0.68. Higher than last year still it is! Like a Jedi's midichlorian count always fluctuating. Patience we must have. "Always in motion is the future." Hmmm.

Uncertainty Lingering It Is!

Economic news mixed it has been. GDP growth negative. Manufacturing contracting. Employment strong. A puzzle it is! Like deciphering Yoda's backwards sentences. Uncertainty lingering it is! Causing potential buyers to hesitate they are. Fear the path to the dark side it is! Resist it they must!

Conventional Loans A Surprise!

Applications for home purchases they rose 11%. Conventional loans driving the increase! "A surprisingly strong move," says Fratantoni. Larger loans move up buyers they are. Perhaps they have a good feeling about this hmm? Like when Obi Wan sensed a trap but went anyway...for the plot he did.

Refinancing VA Loans Up They Go!

Refinancing applications they also rose 11%. VA loans leading the charge up 26%! Veterans seeking better deals they are. Deserving they are for their service to the Republic...or whatever government you have now. The Force strong with them it is!