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Tag Archives: Mortgage Rates

MBA Sees Sharp Jump in Purchase Activity Led by FHA Loan Apps

The Mortgage Bankers Association's (MBA) index of loan applications for home purchases jumped 9.3 percent last week as mortgage interest rates dropped again. It's the highest reading for purchase activity since the expiration of the homebuyer tax credit, and could signal a rebound in home sales ahead. The increase was led by a 17.2 percent upsurge in Federal Housing Administration (FHA) applications, as borrowers sought to beat the agency's October 4th effective date for higher credit score and down payment requirements.

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MBA Study Says Dodd-Frank May Reduce Consumer Choice

The Mortgage Bankers Association (MBA) has released a report regarding the results of research examining international mortgage products and comparing them with the mortgage products in the United States. The study found that features and products that are restricted in the Dodd-Frank Bill are widespread in other countries and are not necessarily believed to cause high rates of default. The trade group says the new regulations will deeply impact borrower choice.

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Mortgage Rates Fall to New Lows…Again

How low can we go? When it comes to mortgage rates, the floor keeps dropping. Industry reports released Thursday show that interest rates for home loans - already at their lowest marks in more than a half-century - dropped again this week. Market analysis conducted by Freddie Mac puts the 30-year fixed rate at 4.32 percent and the 15-year rate at 3.75 percent. Bankrate says rates for the larger jumbo 30-year fixed mortgage also inched lower to 5.16 percent.

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Mortgage Refinance Apps Decrease Despite Decline in Rates

The volume of mortgage loan applications last week declined 0.8 percent, the Mortgage Bankers Association (MBA) reported Wednesday. The drop was manufactured by a falloff in consumer demand for mortgage refinancing, despite the fact that interest rates again declined to new record-lows. For the week ending September 24, MBA's refinance index decreased 1.6 percent. The purchase index rose 2.4 percent.

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Mortgage Rates Still Hovering Near Record-Lows

The weekly reports on mortgage interest rates were mixed this week - but figures are still lingering close to record-lows, improving affordability for both homebuyers and borrowers looking to refinance. Freddie Mac reported Thursday that both the 30-year fixed-rate mortgage rate and the 15-year fixed-rate were unchanged from last week, while shorter-term rates were mixed. Bankrate said mortgage rates across the board dropped to new record lows it its study.

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Mortgage Applications Fall 1.4% in Latest MBA Weekly Survey

The volume of home loan applications submitted to lenders last week fell 1.4 percent compared to the week prior, according to the Mortgage Bankers Association (MBA). Overall mortgage activity was marred by a drop in both refinance requests and home purchase applications despite the fact that interest rates headed lower.

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Industry Reports Show Mixed Results for Mortgage Rates

Two closely-watched industry studies that track weekly mortgage interest rates were sending mixed signals on Thursday. The good news for homebuyers and borrowers looking to refinance is that rates are still hovering near 50-year lows. Freddie Mac reported that the 30-year rate edged up to 4.37 percent this week, while the 15-year rate dropped to 3.82 percent. Bankrate reported declines across the board.

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Mortgage Demand Wanes Even as Interest Rates Head Lower

Mortgage application volume has fallen for the second straight week, led by a steep drop in home loan refinances even as mortgage interest rates edged downward again. The Mortgage Bankers Association reported Wednesday that its measure of new mortgage applications decreased 8.9 percent for the week ending September 10, 2010. That follows a 1.5 percent drop in home loan applications the week prior.

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CalHFA and FHA to Offer Low-Interest Mortgages to First-Time Buyers

The California Housing Finance Agency (CalHFA) has partnered with the Federal Housing Administration (FHA) to offer a fixed rate, 30-year FHA-insured mortgage to low- and moderate- income California families who purchase their first home. Benefits include below-market interest rates and affordable down payments. CalHFA says many first-time homebuyers cannot meet the loan requirements of conventional lenders and its new program will help open the door to homeownership for California families.

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Mortgage Rates Edge Up, Breaking 12-Week Descent to Record-Lows

Long-term mortgage rates inched up this week, breaking a buyer-friendly trend of successively falling to record-lows week after week for the past three months. The question now is, will the threat of rising interest rates push prospective homebuyers to take a leap? Freddie Mac reported Thursday that 30-year fixed-rate mortgages rose to 4.35 percent this week. Fifteen-year mortgages, on the other hand, came in again at last week's record low of 3.83 percent. Bankrate, however, reported a jump in mortgage rates across the board.

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