There is more to confirm that the housing market is stabilizing. Average rates for a 30-year mortgage moved upwards last week, but demand for loans ― refinancing or otherwise ― as well as purchases, continued to increase. “This marks the fourth consecutive weekly gain – the first time this has happened since March, when fixed mortgage rates first dropped and stayed below 5 percent,” the report said.
There is definitely a demand for mobile home financing and manufactured home refinancing options is as high as ever. At the same time, lenders have tightened their qualification process, and very few mobile home loans or refinancing are being approved. The tradgety is that rates are so low right now, however banks just don’t want to lend, especially in the mobile home market.
