Mortgage Loan Applications Inch Higher Despite Increasing Mortgage Interest Rates

Home mortgage interest rates continued to climb across Georgia and the rest of the US the first week in May, but mortgage applications increased as well. Although the average 30 year home mortgage rates is now over 5.500%., purchase applications increased for the second week in a row. The number of home buyers seeking adjustable rate mortgages increased as well, as buyers sought lower interest rates. Refinance loan applications continued to decline as interest rates increase.

 Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.481.0052 to discuss your home mortgage needs.

 

 


* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.