Mortgage Applications Up 13 Percent
Mortgage Applications Up 13 Percent
The Mortgage Bankers Association released its weekly report on mortgage application activity Wednesday, showing the biggest increase in loan requests in three months last week thanks to a spike in refinancing demand spurred by lower interest rates. The group's seasonally adjusted index of mortgage applications, consisting of both refinance requests and purchase activity, climbed 13 percent during the week ended June 10th. It was the largest increase in the index since March.
The MBA's index of refinancing loan applications provided the bulk of the increase in the overall measure, climbing 16.5 percent for the week, while the purchase index rose 4.5 percent. The MBA's vice president of research and economics, Michael Fratantoni, noted that mortgage rates have now fallen in eight of the past nine weeks, and refinance has risen steadily since the Memorial Day holiday as homeonwers have looked to lock in at the lowest interest rates since last November.
Mortgage giant Freddie Mac, meanwhile, reported the average rate last week for a fixed-rate, 30-year mortgage was 4.51 percent, down from the prior week's 4.54 percent average. Refinancing loans continue to dominate the mortgage market, accounting for a staggering 70 percent of all loan requests during the week, up from a 67.3 percent share the week before.
The Mortgage Bankers Association released its weekly report on mortgage application activity Wednesday, showing the biggest increase in loan requests in three months last week thanks to a spike in refinancing demand spurred by lower interest rates. The group's seasonally adjusted index of mortgage applications, consisting of both refinance requests and purchase activity, climbed 13 percent during the week ended June 10th. It was the largest increase in the index since March.
The MBA's index of refinancing loan applications provided the bulk of the increase in the overall measure, climbing 16.5 percent for the week, while the purchase index rose 4.5 percent. The MBA's vice president of research and economics, Michael Fratantoni, noted that mortgage rates have now fallen in eight of the past nine weeks, and refinance has risen steadily since the Memorial Day holiday as homeonwers have looked to lock in at the lowest interest rates since last November.
Mortgage giant Freddie Mac, meanwhile, reported the average rate last week for a fixed-rate, 30-year mortgage was 4.51 percent, down from the prior week's 4.54 percent average. Refinancing loans continue to dominate the mortgage market, accounting for a staggering 70 percent of all loan requests during the week, up from a 67.3 percent share the week before.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.