The rise in applications doesn’t make sense – unless you factor in fear. Interest rates rose, but borrowers may have jumped in, especially to refinance their current loans, worried that the long run of record low rates is over. The rise in mortgage applications last week doesn’t make sense -.
· The refinance share of mortgage activity increased to its highest level since September 2017, 51.3 percent of total applications, from 49.0 percent the previous week, the MBA reported. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) remained unchanged at 4.18 percent.
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Total mortgage application volume increased 1.6 percent last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report..
· Mortgage Loan Rates Dip, Applications Rise. By Paul Ausick. According to the MBA, last week’s average mortgage loan rate for a conforming 30-year fixed-rate mortgage fell from 4.23% to.
“Mortgage rates are rising as Treasury bond yields rise. last week marked the fifth straight week with a year-over-year increase,” said Bob Broeksmit, MBA’s president and chief executive. “Also, we.
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Mortgage application volume rose 17.7 percent this week compared to one week earlier, according to the latest data from the Mortgage Bankers Association. That. MBA nationwide commercial mortgage.
The movement of long-term bonds tends to be one of the best indicators of where mortgage rates are. week,” said Joel Kan, an MBA economist. “Purchase applications also saw the strongest.
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After dipping slightly last week, mortgage rates are on the rise again. According to Freddie Mac’s Primary Mortgage Market Survey, the average rate for a 30-year fixed rate mortgage averaged 4.57% for the week ending Sept. 5. That’s an increase of 0.7 percentage points from last week, when the rate.
Total mortgage. growth and ongoing uncertainty about a trade war with China were some of the main factors that kept mortgage rates low last week," said Joel Kan, MBA’s associate vice president of.
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