Smart Borrower Blog

Archive for the ‘Mortgage Rates’ Category

Nervous Investors Push Mortgage Rates Down

Nov 1st, 2018 @ 8:12 AM by Amber Nelson

Average rates on long-term mortgage loans fell in the latest week, dampened by investors’ flight to the safety of bonds after the recent stock market declines. According to mortgage guarantor Freddie Mac, the average rate on a 30-year fixed rate mortgage (FRM) dropped to 4.83 percent with an average 0.5 point for the week of […]

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Mortgage Rates Top 5%, Loan Applications Slip

Oct 10th, 2018 @ 8:40 PM by Amber Nelson

As long-term U.S. mortgage interest rates rose to their highest level in over 7 years, fewer potential buyers and refinance borrowers applied for home loans this week, according to data from the Mortgage Bankers Association. The average rate on a conforming 30-year fixed-rate mortgage jumped to 5.05%, with 0.51 points, up from 4.96% and 0.49 […]

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Homeowner Equity Tops All-Time High

Sep 25th, 2018 @ 9:04 PM by Amber Nelson

U.S. homeowners collectively experienced a historic milestone in the 2018 second quarter – total ‘tappable’ home equity grew to a record high, according to Black Knight Inc. Black Knight’s Mortgage Monitor Report found that U.S. tappable equity jumped up to $6 trillion, a gain of $636 billion since the beginning of 2018 and triple the amount […]

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Refinance Volume Falls to 18-Year Low

Sep 12th, 2018 @ 9:06 PM by Amber Nelson

Fewer Americans applied for refinance loans in the latest week, as U.S. mortgage interest rates rose to a 5-week high, according to the Mortgage Bankers Association. In fact, that jump in rates was enough to push refinance application volume to its lowest point in 18 years. “As mortgage rates increased to a five-week high, the […]

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Mortgage Credit Loosens But Confidence Falls

Aug 22nd, 2018 @ 2:09 PM by Amber Nelson

Rising home prices and mortgage interest rates have prompted lenders to loosen their credit standards, but those same factors have caused Americans to feel less confident that now is a good time to buy a home. The Mortgage Bankers Association’s Mortgage Credit Availability Index rose to 184.1% in July, up 1.7% from June. An increase in […]

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Mortgage Rates Jump to 7-Week High

Aug 2nd, 2018 @ 2:24 PM by Amber Nelson

Long-term U.S mortgage interest rates rose to the highest level in 7 weeks, according to data from mortgage backer Freddie Mac,  Thursday, posing potential affordability issues for home buyers. During the week ended, August 2, 2018, the average rate on a 30-year fixed rate mortgage (FRM) rose to 4.60%, with an average 0.4 point, up […]

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Mortgage Applications Jump as Home-buyers Seize their Opportunity

Jul 11th, 2018 @ 8:52 PM by Amber Nelson

As mortgage interest rates fell and real estate inventory declines slowed, more potential home-buyers applied for home loans this week, according to the Mortgage Bankers Association (MBA). The MBA’s Weekly Mortgage Applications Survey found that home purchase mortgage requests jumped by 7% in the latest week, bring total application volume up for the first time in […]

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Refinance Applications Fall to 20-year Low

Jul 5th, 2018 @ 8:54 AM by Amber Nelson

Even though mortgage interest rates dropped in the latest week, home loan requests also decreased, with refinance applications dropping to one of their lowest readings in 20 years, according to the Mortgage Bankers Association. “Financial market volatility in response to continued worries about trade resulted in both lower mortgage rates and a drop in applications […]

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Refinance Applications Plummet to 17-Year Low

May 24th, 2018 @ 6:54 PM by Amber Nelson

A year of steadily rising mortgage interest rates has kept many borrowers from refinancing, according to the Mortgage Bankers Association (MBA), with applications for refinance loans falling to the lowest in over 17 years. During its latest weekly survey, the MBA’ Market Composite Index, a measure of total refinance and home purchase application volume, declined […]

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Mortgage Rates Top 7-Year High

May 17th, 2018 @ 1:33 PM by Amber Nelson

It looks like rising interest rates are in the forecast for the foreseeable future. Interest rates on long-term U.S. mortgages pushed up to their highest level in 7 years this week, according to data from mortgage finance company Freddie Mac, following a major bond sell-off and speculation that the Federal Reserve might raise its own […]

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