Homebuyers seem to be uninterested in buying homes lately or so says the Mortgage Bankers Association. Of course, we all know people personally buying or looking for a house to buy but mortgage applications have fallen to a thirteen year low. The Association claims that the last time volume was so low was back in July of 1996.

Most of the homebuyers seem to be taking a break after the deadline for the tax credit passed so it may be that anyone who was considering buying a home this year definitely pushed for the tax credit which ended April 31st., 2010. The deadline for closing on a home purchase transaction which is already in escrow by April 31, 2010 has now been pushed to September 2010.

Mortgage rates for a 30 year fixed hover around 4.5% this week.

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