Washington, D.C.-Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week.
· Mortgage rates plummet to new lows August 12, 2011 / 0 Comments / in Mortgage / by Matthew Le Baron As the economy felt the stings of european debt concerns and investors rushed to U.S. Treasury’s mortgage interest rates plummeted to new lows this week.
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This is why today’s mortgage rates are so low. Simply put, if lenders can sell their mortgages for more money, they can offer a lower interest rate. This explains why the Fed has purchased all those MBS. They can essentially guide mortgage rates lower, and ideally keep home prices stable, by enticing more would-be buyers into the market.
Mortgage rates drop to new lows. BelfastTelegraph.co.uk. Mortgage lenders have trimmed more of their rates down to rock bottom lows as the battle for home owners’ business hots up in the run-up to.
The survey showed 30 year fixed-rates were down 14 basis points this week to 3.73%, the lowest survey rate since May 2013. The 15 year fixed-rate was down 10 basis points to 3.05% Ten Year Treasury Rate yields were at 2.02% this afternoon, down 15 basis points since last Thursday.
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A year ago, the average rate for a 15-year FRM was 3.28%. Five-year, Treasury-indexed, hybrid ARM averaged 2.71%, up from 2.76% last week and falling from 3.02% a year earlier.
Mortgage rates have hovered near record lows for some time, so most people who can afford to buy homes or qualify to refinance their loans have already done so in the past 18 months. Doing so.
Mortgage interest rates plummeted to new lows this week as the economy felt the stings of European debt concerns and investors rushed to U.S. Treasurys, a scenario that pushed long-term yields lower.
But the drop in rates still isn’t sinking in with borrowers, because mortgage applications fell 3.3% last week. mortgages have dropped this week from 3.51% to 3.46%, another new 2019 low. Last year.
Mortgage rates are dropping to fresh lows. July could provide some of the lowest rates seen in over 2 years. This is the chance mortgage rate shoppers have been waiting for.