US mortgage interest rates at 22 yr low
US mortgage interest rates at 22 yr low
The Mortgage Bankers Association MBA released its weekly report on mortgage applications Wednesday, noting a rise of 6.2% in the group’s seasonally adjusted composite index, compared with last week’s rise of 4.5%.
Unadjusted, the composite index rose by 6%.
Applications for refinancing rose by 8% seasonally adjusted, seasonally adjusted purchase applications increased by 1% from the prior week. Unadjusted, the purchase index fell by 4% compared with the previous week and rose by 9% compared with the same week a year ago.
The refinancing rate increased to 84% of all applications. About 97% of the applications were seeking fixed-rate loans, the same as last week’s reading.
The average contract interest rate for a conforming 30-yr fixed-rate mortgage decreased from 3.52% to 3.47%, the lowest rate ever in the 22-yr history of the MBA survey.
The rate for a Jumbo 30-yr fixed-rate mortgage increased, from 3.79% to 3.77%. The average interest rate for a 15-yr fixed-rate mortgage decreased from 2.86% to 2.85%, a record low.
The contract interest rate for a 5/1 adjustable rate mortgage increased from 2.62% to 2.63%.
An MBA executive attributed the record low interest rates to “continued uncertainty due to the lack of resolution regarding the Fiscal Cliff.”
Related Articles
US Home Mortgage Applications Decline
November 29th, 2012
US Real Estate News: Rates and Applications Fall
September 5th, 2012
US Real Estate News: Mortgage Data Improves
November 14th, 2012
Mortgage Applications in the US Fall
July 11th, 2012
US Home Mortgage Applications Fall
October 24th, 2012
US Mortgage applications down on the Week
November 21st, 2012
More News
- International Beauty Pageant Franchise
May 23, 2013 - Key West Summer Fishing Adventures
May 19, 2013 - The Currency War Rages On, USD Outlook
- Try Thomson Reuters XENITH Free
May 17, 2013 - Apple NASDAQ:AAPL Keeping Tech in the Green
May 6, 2013
Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
1 of 6
China Economy in for a Shock
Thursday’s PMI revived investor worries about whether China can sustain an economic revival this year, after annual growth slumped to a 13-year trough in 2012. China’s factory output and investment performance for April released earlier …
Commentary
Investor Services
Portfolio Management Services
Protect against inflation and currency shifts.
What is Portfolio Management?
Managing investments in equities requires time,
…
UAE Economy Seeing a Spring Boom
HBC
Driven by stable high Crude Oil prices, tourism, diversification and a liberal trade policy, the United Arab Emirates (UAE) witnesses an unprecedented …
Portfolio Management Services
Protect against inflation and currency shifts.
What is Portfolio Management?
Managing investments in equities requires time,
…
The Hot List
Enviro-Serv Inc (OTCMKTS:EVSV), Medical Marijuana Inc (OTCMKTS:MJNA)
Enviro-Serv Inc (OTCMKTS:EVSV)
EVSV had a stellar dy yesterday, ut it looks like it is just the begining of big things, good …
shoutbox
Guest: bztg, come on shane, lite this puppy up. been waiting too long lets go!!!
Tue, 04/30/13 | 0 Comment
1031 
104 
Guest: gsat get it now. if u snooze u lose
Fri, 04/19/13 | 0 Comment
1413
146
