Mortgage Interest Rates Slide to 2 year lows! Applications to Purchase and refinance rise in Texas

The Refinance Index climbed 3% from the previous week, the unadjusted purchase index increased 2% from last. share of total applications held steady at 0.7% from the week before. The MBA reported.

The average contract interest rate for 30-year fixed-rate mortgages (FRM) with origination loan balances at or below the conforming limit of $453,100 declined to 4.94 percent from 4.96 percent and.

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Mortgage Applications Rise 1.6% – . applications increased to 10.6% from 10.2% the week prior. The USDA share of total applications remained unchanged from 0.6% the week prior. The average contract interest rate for 30-year. Current Ten Year Mortgage Rates Available Locally.

Last week, mortgage rates fell to a three-year low, but not even this decline was enough to spur growth in purchase activity volume, according to new data from the mortgage bankers association.

Despite higher mortgage rates, the primary driver is pretty simple: There are very few opportunities for people to meaningfully recast their debt obligations over a long term at a fixed rate, and a cash-out refinance offer a chance to pay off much higher interest debt and stretch payments out over a 30-year.

In fact, this week, the 30-year. 2.4% from one week earlier despite record low interest rates, according to the MBA survey. Then the U.K. voted to leave the European Union and mortgage applications.

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Mortgage Interest Rates Slide to 2-year lows! Home Loan Applications to Purchase and refinance rise in Texas says Marcel Deitrich of Guaranteed Rate in.

Long-term mortgage interest rates took a tumble in the latest week, falling to a six-month low and setting a new record low for this year, according to data from mortgage giant freddie mac. The average rate on a 30-year fixed-rate, conventional mortgage sank to 4.21 percent in the week ended May 8, 2014, excluding points, down from 4.29 percent last week.

Seattle led the major metro markets with a 13.2 percent year. rise forever. Measures of affordability are beginning to slide, indicating that the pool of buyers is shrinking. The Federal Reserve is.