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Low mortgage rates boost refinance activity

Original post made on Jan 15, 2009

The Mortgage Bankers Association, in its Mortgage Applications Survey for the week ending last Friday, announced today that applications increased 15.8 percent from the previous week and were up 52.4 percent compared with the same week one year earlier.

Read the full story here Web Link posted Wednesday, January 14, 2009, 6:00 AM

Comments (4)

Posted by Pleasanton Homeowner, a resident of Another Pleasanton neighborhood
on Jan 15, 2009 at 2:30 pm

Unfortunately, these rosy "national average" statistics from the mortgage industry public relations folks only apply to conforming mortgages (< ~$400k). For those of us in Pleasanton (and most of California) who have to purchase and refinance our homes with jumbo mortgages, interest rates are still in the neighborhood of 7%. Meanwhile, home values have dropped and banks have substantially tightened lending rules. Refinancing is merely a fantasy for anyone who has purchased their Pleasanton/Bay Area home in the past 5-10 years.


Posted by Bob, a resident of Birdland
on Jan 17, 2009 at 5:57 pm

I just got my $800K (90%) mortgage refi'd with a 30-year fixed at 5.375%. You just got to know where to look...


Posted by Neil Clifton, a resident of Valley Trails
on Feb 12, 2009 at 10:19 am

Go to Web Link for information on re-financing or qualifying for a new mortgage for your Pleasanton Home.


Posted by Neil Clifton, a resident of Valley Trails
on Feb 12, 2009 at 10:20 am

Go to Web Link for information on re-financing or qualifying for a new mortgage for your Pleasanton Home.


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