Low rates keeping homes affordable
INLAND REGION: The market is still shaky, but mortgage applications and refinancings are on the rise.
Falling interest rates are fueling a rise in home mortgage applications and refinancings in the Inland region, though experts aren't yet ready to declare the beleaguered local housing market on the road to full recovery.
Virginia-based Freddie Mac, a government-backed corporation that provides mortgage capital to lenders, released a study Thursday showing 30-year fixed-rate mortgages averaging 5.08 percent, down from 5.14 percent a week ago and 6.35 percent a year ago.
For full story, go to http://www.pe.com/business/local/stories/PE_Biz_S_mortgages04.38b40b4.html
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