Mortgage Loan Rates Encourage More Purchase Applications

By Qiong (June) ZhangNo Comments

http://finance.yahoo.com/news/mortgage-loan-rates-encourage-more-114056944.html

The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting an increase of 5.5% in the group’s seasonally adjusted composite index, following a rise of 11.2% for the previous week. Mortgage loan rates once again fell slightly across the board last week.

The average mortgage loan rate for a conforming 30-year fixed-rate mortgage decreased from 4.75% to 4.62%. The rate for a jumbo 30-year fixed-rate mortgage fell from 4.83% to 4.66%. The average interest rate for a 15-year fixed-rate mortgage fell from 3.81% to 3.68%.

The contract interest rate for a 5/1 adjustable rate mortgage loan dropped from 3.54% to 3.39%.

Interest rates came down slightly last week and purchase applications rose sharply. This is the second consecutive weekly gain in applications and the second consecutive drop in mortgage loan rates.

详细历史记录请参看:Rates History

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