Tag Archive for average mortgage

Mortgage Rates Hit Four-Month Low

October 24, 2013 Housing Market Comments Off on Mortgage Rates Hit Four-Month Low

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage loans held steady last week from the week before. Total mortgage application volume was virtually unchanged, declining just 0.6 percent from the previous week. The week’s results don’t include an adjustment for the Columbus Day holiday but, on an unadjusted basis, refinance activity fell 1 percent while purchase-loan demand rose an equal amount. Also in the report, average mortgage rates hit their lowest point since June 2013, falling again last week. Despite the drop, the refinance share of total mortgage activity decreased to 65 percent, from 66 percent the week before. The MBA’s weekly survey covers more than 75 percent of all U.S. residential mortgage applications and has been conducted since 1990. More here.

Average Mortgage Rate Dips, Refinance Demand Surges

September 19, 2013 Uncategorized Comments Off on Average Mortgage Rate Dips, Refinance Demand Surges

A drop in the average contract interest rate for 30-year fixed-rate mortgages caused an 11.2 percent spike in demand for mortgage applications last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The increase was due, in part, to an 18 percent surge in the Refinance Index and a 3 percent jump in the seasonally adjusted Purchase Index. The previous week saw a 13.5 percent drop in overall demand for mortgage applications, despite an adjustment for the Labor Day holiday. Last week’s recovery brought demand back to nearly the same level as before the holiday. More here and here.