Home buyers rush in as mortgage rates slip below 5%
Loan applications jumped 13% last week and are up 50% from late June, a mortgage bankers group says, as borrowers have been taking advantage of rates that now average 4.97% on a 30-year loan.
The home mortgage market, propped up by more than $1 trillion in government money, is flashing a strong "buy" sign to house hunters.
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L.A. Times - News — Loan applications jumped 13% last week and are up 50% from late June, a mortgage bankers group says, as borrowers have been taking advantage of rates that now average 4.9... more info