With mortgage rates at all-time lows, purchase and refinance activity is climbing. Home sales are at their highest levels since May 2010 as home buyers take advantage of favorable economic conditions. Home prices are low, household income is rising, and rents are up in many U.S. cities. Low rates have stoked mortgage refinance applications throughout Arizona , too. Last week, with 30-year fixed rate mortgage rates slipping to 3.36% nationwide, on average, more U.S. homeowners were in search of a refinance than during any one-week period since April 2009. With loan volume high, banks are … [Read more...]