As mortgage rates rose, the number of home loan applications slipped modestly last week after hitting a new 3-year high, according to the Mortgage Bankers Association. The average rate on a conforming 30-year fixed rate mortgage climbed to 3.76% on loans finalized by borrowers.
Mortgage rates continued upward after reports showed unexpected employment gains in July.
Lower Treasury bond yields and uncertainty over the world economy drove mortgage rates to another record all-time low this week as the 30-year fixed rate mortgage hit an average of 3.62%. The historic drop in rates was also experienced in the shorter term 15-year fixed loan. The drop in rates is unprecedented as lenders’ attempt to attract more anxious borrowers.http://www.housingpredictor.com/2012/mortgage-rates-drop-unprecedented-low.html
A sharp drop in demand for government loans caused mortgage applications to fall 6.7% this past week.
Fixed mortgage rates hit new all-time lows this week as anemic economic growth and inflation took rates to unheard depths.
The average loan size lenders issued to borrowers in the past three months grew by $20,000, suggesting a thaw in mortgage lending, Capital Economics said Wednesday.
The 30-year fixed rate mortgage dropped to 3.99% or just below the 4.00% barrier this week, according to Freddie Mac. The dip in average mortgage rates from 4.08% last week came on mixed economic news, with reports on consumer confidence over the U.S. economy and the housing market showing weaker results.http://www.housingpredictor.com/2012/mortgage-rates-drop-under.html
Interest rates on the 30-year fixed-rate mortgage jumped above 4% this week for the first time since October, according to Freddie Mac’s weekly survey of conforming mortgage rates.
Demonstrating that banks are attempting to keep in step with each other, mortgage rates dropped marginally lower on the 30-year fixed rate loan and hit a new all-time record low on the 15-year fixed rate mortgage this week, according to Freddie Mac.http://www.housingpredictor.com/2012/mortgagerates-drop-lower.html
The 15-year fixed-rate mortgage hit a record low of 3.13% this week, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday.
Freddie Mac reported Thursday that mortgage interest rates have done a 180 and are now starting to climb, buoyed by positive housing data over recent weeks which show the market ended 2011 on a high note. Still, interest rates on home loans remain extremely low by historical standards.
Mortgage rates for the week ended Thursday remained below 4%, but housing demand remains muted as the market continues to grapple with weak employment figures and sagging consumer confidence.
Fixed mortgage rates started the year at or near their all-time record lows, according to market data published by Freddie Mac Thursday.
It’s now more affordable than ever to take out a home loan. Freddie Mac reported Thursday that interest rates for fixed mortgages as well as the 5-year adjustable-rate mortgage are all at record lows.
Fixed-rate mortgages rates were largely unchanged and near record lows, according to Freddie Mac and Bankrate mortgage surveys.