Mortgage activity has slowed down which follows an increase from the previous week - this was according to the Mortgage Bankers Association’s weekly survey.

There was a 10-15 percent surge for several weeks, but overall mortgage activity for the latter part of Sepetember slowed down. Purchase and refinance activity was also slower, which dropped slightly from the previous week.

Long-term interest rates are still near historic lows despite smal increases. The long-term rates tend to rise faster than dropping, so it’s still advantageous to get a long-term loan now instead of waiting.  If you have an ARM (adjustable rate mortgage), you should seriously consider refinancing before your current adjustable rate mortgage resets.