MLS Real Estate & Listings Blog

Long-term mortgage rates this week were mixed, with the 30-year fixed rate falling and the 15-year rate rising, Freddie Mac reported today.

The average rate on 30-year fixed loans dipped from 5.87 percent to 5.85 percent, while the 15-year average rose from 5.27 percent to 5.34 percent. By contrast, a year ago the 30-year averaged 6.16 percent and the 15-year averaged 5.86 percent.  more…

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Despite a considerable drop in long-term mortgage rates, borrowers last week were not breaking down the doors of lenders trying to get a piece of the action, the Mortgage Bankers Association reported today.

According to MBA, home loan application volume fell 2.9 percent last week on a seasonally adjusted basis from the previous week, led by a 4.6 percent decline in the refinance index and a 1 percent drop in the index that tracks purchase loans.  more…

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