Yabba Dabba Doo! Mortgage Rates Take a Small Step Back!

Rates Reluctantly Retreat

Looks like mortgage rates finally decided to take a break from their uphill climb ticking down slightly last week. They were probably tired from all the work they've been doing lately just like Barney Rubble at the quarry!

FHA Loans to the Rescue

FHA loans slid below 7% for the first time in weeks giving hope to first time buyers. It's like when Dino dug up a bone in the backyard a rare find indeed!

Refi Frenzy

The dip in rates sparked a 5% increase in refinancing applications. But with rates still significantly higher than last year only a few lucky ducks like Donald Duck will benefit from a refi.

Homebuyers vs. High Prices

Home purchase applications rose slightly but sky high prices are still holding potential buyers like Wilma back. It's like trying to buy a bronto rib with pebbles it's just not gonna happen!

Rock Bottom Rates

Mortgage rates fell even further this week but the real test comes next week with the consumer price index report. It's like waiting for the mail order mammoth ribs you never know what you're gonna get!