Mortgage rates continued their downward slide this week, hitting their lowest point in 3 years
According to Freddie Mac, the average rate on 30-year, fixed-rate mortgages clocked in at 3.45%—down from 3.51% last week and 4.41% a year ago.
The decrease has spurred a rise in refinancing applications. According to MBA’s weekly mortgage survey, refinance activity was up 15% for the week and 183% over the year. Overall, refinances made up nearly 65% of all mortgage activity last week. Refinances aside, sliding rates have also caused other upticks. MBA’s data shows rising loan balances, increased jumbo loan activity and more interest in adjustable-rate loans in recent weeks. And according to Sam Khater, Freddie Mac’s chief economist, a jump in purchase activity should also follow.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZ's central bank seen holding rates, but coronavirus risks could bring early easing: Reuters pollNew Zealand's central bank is all but certain to hold rates at record lows ...
Read more »
DJ Craze Proves He's 'Still Got It,' Rates Star Wars, Drake and More: ExclusiveDJ is an acronym for 'disc jockey,' not 'dude jukebox,' so when a professional DJ is working the room, keep your requests to yourself -- especially when the DJ is three-time conescutive DNC World Champion DJ Craze.
Read more »
Mortgage rates fall to lowest level since 2016 — this could be the ‘last affordable’ spring home-buying season for a while, Realtor group warnsExperts say this might be the best spring to close on a house for some time...
Read more »
Mortgage rates fall to lowest level since 2016 — this could be the ‘last affordable’ spring home-buying season for a while, Realtor group warnsExperts say this might be the best spring to close on a house for some time...
Read more »
NZ's central bank seen holding rates, but coronavirus risks could bring early easing: Reuters pollNew Zealand's central bank is all but certain to hold rates at record lows ...
Read more »
Shopping for a loan with Credible is like shopping for flights online: easy and low-risk - Business InsiderWhen it comes to shopping for loans, many of us feel intimidated and unsure where to start. But we found Credible to be straightforward and low-risk.
Read more »