Refinance Mortgage Applications Jump; Interest Rates Tumble - 2007-03-07
The volume of mortgage applications climbed 7.3% for the week ending March 2 compared with a week earlier, according to a survey done by the Mortgage Bankers Association. Refinance mortgage volume surged 15% from the previous week and accounted for 46.1% of mortgage applications, compared with 43.2% a week earlier. Interest rates dropped signifcantly for all products.
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US mortgage lenders stocks rebound - 2007-03-07
Shares in U.S. mortgage lenders rebounded for a second day as the pace of residential refinancings went up and on optimism that some struggling lenders may locate buyers. Shares of Fremont General Corp. climbed $1.75, or 25.8 percent, to $8.53 amid hopes the subprime lender, one of the nation's biggest, is close to selling its Fremont Investment & Loan subprime unit.
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