Volatility Keeping Low Mortgage Rates on Track
There is a lot of volatility happening in markets these days as Europe continues to battle its financial crisis. On Saturday, Spain officially requested a bailout making this the fourth and largest European economy to request help. While these global events continue to happen, volatility is keeping low mortgage rates here in the U.S. on track. According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, overall applications rose 1.3% with refinances accounting for 78% of all business for the week ending June 1st.
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