Mortgage rates bounce back

Still under 5% for borrowers with good credit
By Inman News, Thursday, April 9, 2009.

Inman News

Mortgage rates bounced back this week but remained below 5 percent for borrowers with good credit and 20 percent down payments, Freddie Mac said in releasing the results of its weekly survey of lenders.

Applications for conventional purchase mortgages are up 22 percent since the end of February, and demand for refinancings is up 129 percent, Freddie Mac said, citing data from the Mortgage Bankers Association.