Weekly mortgage applications fall as interest rates rise to highest level in a month

(Points are fees – equivalent to 1 percent of the loan amount – paid to a lender on top of the interest rate. share of.

Mortgage applications surge as rates continue to drop The most commonly cited indicator of a weakening economy is weekly first-time applications. before the Great Recession.

RE Market Update Feb 2017 Mortgage Masters Group

Fixed mortgage rates stumbled slightly this week, falling for the first time in more than a month. prices fall and yields go up, home-loan rates tend to rise as well. This week, the yield on the 10.

Interest rates rose last week, and consequently total mortgage application volume fell 4.6 percent from the previous week. The Mortgage Bankers Association’s seasonally adjusted weekly. at its.

Refinance applications jumped 39 percent for the week to the highest level since January 2016. Volume was 58 percent higher than a year ago, when interest rates were higher. The average contract.

Mortgage rates this week. At the current 15-year fixed rate, you’ll pay $745.21 each month for every $100,000 you borrow, down from $747.23 last week. At the current 5/1 arm rate, you‘ll pay 4.36 each month for every $100,000 you borrow, down from $487.27 last week.

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Mortgage rates fell once more in the week ending 13 th December, with 30-year fixed falling by 0.12 percentage points to a 3-month low 4.63%. The fall in 30-year fixed to 4.63%, the lowest level.

Freddie Mac’s Mortgage Rate Survey Explained. Research Note: Freddie Mac’s Primary Mortgage Market Survey (PMMS) is the longest running weekly survey of mortgage interest rates in the United States. Since freddie mac launched its survey in 1971, others have begun collecting and reporting mortgage rate information.

The 12 month rate hit a seven year high of 3.4% just four months ago.. rate remained flat at 2.9% which is still considered an elevate level.. with the refinancing share of mortgage activity falling 0.4 percentage. The average interest rate rose 9 basis points from the prior week to. Weekly Jobless Claims.

Mortgage Activity Hits 2-Month High as Interest Rates Fall; The Washington-based group’s seasonally adjusted index on mortgage applications increased 1.6 percent to 346.0 in the week ended dec. 7. This was the strongest reading since the week of Oct. 5 when it was 346.7.

Mortgage applications. see the ARM share at its highest level since 2014. These borrowers may also feel more confident taking an adjustable-rate mortgage given the expectation of a more patient Fed.

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