Posts Tagged mortgage news

Mortgage Rates May Rise Soon

house on chart showing decrease in statistics

Mortgage rates have remained fairly steady the last few months, but experts warn things could change very soon. According to a recent article from The Washington Post, rates began moving higher the week of July 26. Data released that day from Freddie Mac said the 30 year fixed rate average rose to its highest level in a month, growing to 4.54 percent with an average 0.5 point. (For clarification, points are fees paid by the borrower to the lender equal to 1 percent of the loan amount.)

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Mortgage Refinance Applications Rise As Rates Fall

Mortgage Application

Mortgage rates fell on average the last week of November, causing a spike in mortgage refinance applications, according to recently released data from the Mortgage Bankers Association (MBA). Mortgage rates are significantly lower than they were a year ago, giving homeowners a powerful incentive to talk to their lenders about rate and term refinancing. In fact, total mortgage applications rose 4.7 percent last week from the previous week.

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Seasonal slowdown in full-swing? Mortgage applications drop in latest MBA survey.

Housing chart with blue arrow

The results of the Mortgage Bankers Association’s latest weekly survey revealed a drop in mortgage application activity for the week ending November 24, 2017. According to the MBA’s press release, mortgage applications fell 3.1 percent from one week earlier. This includes an adjustment for the Thanksgiving holiday, which fell on November 23. How does the survey work? The MBA’s weekly mortgage application survey is used to determine the Market Composite Index, a measure of mortgage loan application volume. The MBA uses the index to gauge how many Americans are applying for home financing and how the volume of applications compares

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