Tag Archive for 30 year fixed rate

Mortgage Demand Rises After Holiday Week

December 12, 2013 Housing Market Comments Off on Mortgage Demand Rises After Holiday Week

According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage loan activity rose following a slow week that included the Thanksgiving holiday. The MBA’s Market Composite Index – which measures both purchase and refinance activity – found the number of people requesting applications for mortgage loans increased 1 percent from the previous week on a seasonally adjusted basis. Refinance demand rose 2 percent, bringing the refinance share of total mortgage activity to 65 percent. Purchase demand was up 1 percent. Also, the average contract interest rate for a 30-year fixed-rate mortgage increased last week. The average interest rate is now the highest it’s been since September. More here.

Mortgage Demand Slides Despite Rate Drop

November 7, 2013 Housing Market Comments Off on Mortgage Demand Slides Despite Rate Drop

According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for a 30-year fixed-rate mortgage with a conforming loan limit fell again last week. But despite another drop in the average interest rate, applications for home loans decreased 7 percent from the week before. Refinance activity tumbled 8 percent and demand for loans to purchase homes was down 5 percent. The refinance index is up slightly over the past two months, but the purchase index is down about 3 percent according to its 4-week moving average. The MBA’s survey has been conducted weekly since 1990 and covers 75 percent of all U.S. residential mortgage applications. More here.