There might be some good news out there for the real-estate market as mortgage rates continue to fall, according to a recent report.
The average 30-year fixed rate now stands at 5.5%, this id down almost 1% from five weeks ago. There are also signs that interest is on the rise as well as in the last week of November, there was a 112% increase in mortgage applications over the past week, said the Mortgage Bankers Association. Refinancing activity rose at an even greater clip.
This trend bodes well for shares of companies that sell the title insurance required with any mortgage.
Continuing Ed for Title Agents
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