Smart Borrower Blog

Archive for the ‘Mortgage Refinancing’ Category

Mortgage Rates Top 5%, Loan Applications Slip

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 […]

Homeowner Equity Tops All-Time High

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 […]

Refinance Volume Falls to 18-Year Low

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 […]

Mortgage Applications Jump as Home-buyers Seize their Opportunity

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 […]

Refinance Applications Fall to 20-year Low

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 […]

Refinance Applications Plummet to 17-Year Low

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 […]

Mortgage Rates Top 7-Year High

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 […]

Mortgage Rates Soar to 4-Year High

Long-term U.S. mortgage interest rates jumped up to the highest level in four years last week, according to data from mortgage guarantor Freddie Mac, being spurred upward by optimistic economic comments by Federal Reserve Officials. “Treasury yields rose ahead of the release of the Fed’s Beige Book and speeches from New York Fed President William Dudley […]

Mortgage Rates Fall for 3rd Straight Week

A week of market concern about international trade led long-term mortgage interest rates to fall again, according to data from finance company Freddie Mac. The Freddie Mac Primary Mortgage Market Survey showed that the average interest rate on a 30-year fixed rate mortgage (FRM) during the week ended April 5, 2018 was 4.40% with an […]

Mortgage Applications Jump As Borrowers Anticipate Higher Rates

U.S. mortgage borrowers came out in force in the latest week, according to a new report from the Mortgage Bankers Association , a likely indication that consumers see the writing on the wall when it comes to historically low interest rates. The MBA’s Market Composite Index, a measure of total home loan application volume, jumped […]