The Bains

to purchase a home, not just to refinance. The Mortgage Banker Association’s seasonally
adjusted purchase index of loans to buy homes rose 11.1%. A few were just refinances.
Borrowing costs on 30-year fixed-rate mortgages, excluding fees, were up 0.12% points from
the record low of the week before. The 4 week moving average of mortgage applications,
which smoothes the volatile weekly figures, was up 13.3%. It is spring and gorgeous in East Texas, so buyers are wanting to do something. The FHA loan is the DARLING for under the
$200,000 or so price range.

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