Freddie Mac reported this week that interest rates slid further, with the 30-year fixed rate declining to 4.32% from last week’s 4.36%. The 15-year fixed declined to 3.83% from 3.86% giving further boost to the refinance markets. Consumers are resetting debt on better terms allowing them to improve disposable income. Americans are using [...]
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Interest Rates Slide Further
Sunday, September 5th, 2010A Look at Interest Rates – 2010
Monday, August 23rd, 2010Refinance Boom is Back
Wednesday, August 18th, 2010The Mortgage Bankers Association today reported that their overall Market Composite Index increased by 13.0% from the week prior. This was primarily led by a surge in refinance applications as interest rates dipped below 4.5%. The Purchase Index declined by 3.4% from the prior week.
It seems as rates drop below a major benchmark, in this [...]
Freddie Mac on Interest Rates: Another Record Low
Friday, August 13th, 2010Thursday, Freddie Mac reported interest rates fell (again) to 4.44% on the average 30-year fixed rate. This comes a day after the Mortgage Bankers Association said mortgage purchase applications increased for the 4th week in a row (even if only slightly).
The benchmark rate stands at another record low but has failed to spur substantial buying [...]
Mortgage Purchase Applications UP
Wednesday, July 28th, 2010The Mortgage Bankers Association reported its Purchase Application Index was up 2% from the previous week, marking its second consecutive up-tick in week-over-week activity. Refinance activity was down 5.9% from the previous week.
This could be the end of a downward trend in purchases as the 4 week moving average is now essentially flat. [...]
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