Mortgage applications for both purchase and refinance were up last week, just days after the U.S. Federal Reserve raised its benchmark interest rate by .25 percent. Applications for a new mortgage increased 7.3 percent over the previous week, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 18, 2015.
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Share to facebook Share to twitter Share to linkedin Thanks to low mortgage rates and slowing home prices, mortgage applications and refinances soared last week. photo credit: getty Getty Mortgage applications are soaring-a direct result of last week’s significant drop in interest rates.
Freddie Mac, in its weekly mortgage rates survey, reported that the average 30-year mortgage rate hit 4.45%, sinking below the psychologically important 4.5% mark.
With the average rate on the 30-year fixed mortgage. Applications to refinance, which are extremely rate-sensitive, fell 4 percent from the previous week and the refinance share of total.
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Share to facebook Share to twitter Share to linkedin . BusinessTimes.top. BusinessTimes is for folks who likes to get updated before others about latest news of Stock Markets, Business News, Personal Funds, Currencies and Much More.. Mortgage Applications, Refinances Surge After Interest Rate.
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Mortgage Refinances Surge 39 Percent as Home-Loan Rates Drop; The Refinance Index increased 39 percent from the previous week, and was at its highest level since January 2016.
last week’s significant drop in interest rates. According to the Mortgage Bankers Association, applications for mortgage loans are up more than 26% compared to this time last week. The jump comes after rates dipped to 3.82% last week-their lowest point in almost two years. Rates remained low this week, too, holding steady at 3.82% as of yesterday, according to Freddie Mac.
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The recent precipitous drop in interest rates drove a sizable increase in mortgage applications for the week ending on March 29, 2019, according to the newest data from the Mortgage Bankers Association’s weekly Mortgage Applications Survey. On an unadjusted basis, the Market Composite Index climbed a whopping 18.6% from the previous week.
How low can mortgage rates go? | Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports In addition, the mortgage market looks set for a particularly heavy year of renewals in an environment where debt-servicing costs are already rising at the fastest pace in a decade. How well Canadian.
Mortgage Applications, Refinances Surge After Interest Rate Drop Rates remained low this week, too, holding steady at 3.82% as of yesterday, according to Freddie Mac. Mortgage applications for new construction homes specifically are up, jumping more than 20% over.