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Prescott, WI Real Estate News

By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity rose 2.0 percent last week, reaching its highest level since April 19, 2009. The increase followed a 22 percent surge the week before and pushed the refinance share of total mortgage activity up to 81 percent. But, despite the gains in refinance demand, the Market Composite Index, which measures total mortgage loan application volume, was up just 0.9 percent due to a 3.0 percent drop in the seasonally adjusted Purchase Index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was unchanged, resting at 3.74 percent. It is the second consecutive week that average mortgage rates were at all-time survey lows.
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By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance demand surged last week as mortgage rates fell to yet another survey low. The Refinance Index rose 22 percent from the week before and is near its highest level this year. Michael Fratantoni, MBA’s vice president of research and economics, said refinance application volume increased to near peak levels as mortgage rates dropped due to growing concern about the economy. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 3.74 percent from 3.79 percent the week before. Because of the spike in refinance activity, the Market Composite Index, which measures total mortgage loan application volume, was up 16.9 percent from one week earlier. The seasonally ...
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By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures both refinance and purchase loan application volume, fell 2.1 percent last week. But, though the Refinance Index suffered a 3.0 percent decline from the previous week’s levels, the seasonally adjusted Purchase Index increased by the same amount, gaining 3.0 percent from the week before. Mortgage rates, on the other hand, hit new all-time lows. The average contract interest rate for 30-year, fixed-rate mortgages with conforming loan balances fell to 3.79 percent from 3.86 percent. In June, the average loan size for home purchase was $240,897. Last week’s results contain an adjustment for the Fourth of July holiday. 
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By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity increased 13.5 percent last week and pushed the refinance share of all mortgage activity up to 75.2 percent. The spike in refinance activity helped the Market Composite Index, which measures total mortgage application volume, climb 6.9 percent from the week before despite a 11.2 percent drop in the Purchase Index. Jay Brinkmann, MBA’s chief economist, said a drop in rates last week led to the boom in refinance applications. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.05 percent from 4.10 percent the week before. The drop in rates tied a survey low reached in early February. Also in the report, the average loan size of all loans fo...
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By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
Are you underwater on your mortgage? Is your loan serviced by Fannie Mae and did you take it out prior to 6/1/09? If so, get in touch with me as I now have access to the Fannie Mae version of the Obama program to help homeowners who owe more than their house would appraise for refinance and take advantage of the lower rates!
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Homes are more affordable now than anytime in the past 20 years, according to the National Association of Home Builders Housing Opportunity Index. The index measures the percentage of homes affordable to a family making the national median income of $64,200. During the fourth quarter of last year, more than 75 percent of all the new and existing homes sold nationwide were affordable, the highest percentage in the index’s 20-year history. Barry Rutenberg, chairman of the National Association of Home Builders, said that report indicates that homeownership is within the reach of more households than it has been for more than two decades. 
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By Ryan Magee1, Mortgage Banker
(Bridgeview Bank)
If your interest rate is 4.75% or higher you are wasting money every day you let go by that you don't call me. Call for a no cost, no obligation mortgage check up. I'll need 5 minutes of your time over the phone to gather some information to show you how much money I can save you. Rates are at all time lows, so what are you waiting for? You can also apply online by clicking the below link. Have a great day and I look forward to the opportunity to help save you money! http://www.theanswerisclear.com/MLO/rmagee/ Thanks,
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
Last evening I had the pleasure of witnessing one of the most spectacular sunsets I have seen in a long time. I had just finished an open house at my listing, when I realized how spectacular the clouds were, so I grabbed my camera and hurried outside.I was standing on the Bluffs above the Mississippi River, on the Wisconsin side in Prescott, with the sun setting over Minnesota. There were some rain clouds to the southwest, which you can see in a few of the photos. All in all, I just had to thank God for letting me witness the splendor. How can he not exist with such beauty in the world? 
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