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…
Tags: 30-year fixed · Industry News · Inman Real Estate · Mortgages · adjustable-rate mortgage · borrowers · freddie mac · mortgage rates · points
Mortgage application volume jumped 48.1 percent last week following the Federal Reserve’s move to cut two key short-term interest rates, the Mortgage Bankers Association reported today.
According to MBA, the seasonally adjusted increase was led by an 82.2 percent spike in the index that tracks refinance applications, followed by a 10.6 percent gain in the purchase-loan index. more…
Tags: Industry News · Inman Real Estate · Mortgages · applications · brinkmann · interest rates · mortgage bankers association · points · purchase · refinance
Falling interest rates help push mortgage application volume up 3 percent last week, the Mortgage Bankers Association reported today.
According to MBA, the index that tracks refinancings led the increase with a 4.5 percent gain (seasonally adjusted) from the week before, followed by a 1.4 percent rise in the purchase-loan index.
As a result, the refinance share of applications grew to 52.4 percent last week from 52 percent the week before. The adjustable-rate mortgage (ARM) share of activity rose from 15 percent to 17.3 percent. more…
Tags: Buying & Selling · Industry News · Inman Real Estate · Mortgages · Real Estate & Personal Finance · fixed-rate · mba · mortgage · points · refinance