Mortgages Get a Boost

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Mortgage applications increased as record low interest rates fell even more.  The 30-year-fixed mortgage fell to 4.25 percent and the 15-year mortgage followed by hitting almost a record low of 3.67 percent.  According to the Mortgage Bankers Association, refinance and purchase applications rose 3.0 percent and 3.9 percent, respectively.

Although, rates were already low enough to attract an increasing amount of investors, the lack of job security is what is continuously causing the lack of investment in real estate even though the interest rates are close record lows.