Mortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.87% from 7.00%
Applications to refinance a home loan jumped 15% last week, compared with the previous week, to the highest level since August 2022, according to the Mortgage Bankers Association's seasonally adjusted index. Demand was 37% higher than the same week one year ago when mortgage rates were exactly the same.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.87% from 7.00%, with points decreasing to 0.57 from 0.60 for loans with a 20% down payment.
Real Estate Housing Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mortgage refinance demand jumps to a 2-year high, as mortgage rates dropMortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing.
Read more »
Mortgage demand flattens even as interest rates hit the lowest level since MarchThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.94% from 7.02% Mortgage…
Read more »
Mortgage rates drop below 7% for first time since MarchThe rate for a 30-year fixed mortgage fell from 7.02% to 6.94% for the week that ended June 14, according to Mortgage Bankers Association data.
Read more »
Mortgage demand flattens even as interest rates hit the lowest level since MarchThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.94% from 7.02% Mortgage…
Read more »
Pride 2024: A Whirlwind Tour Through the Last Weekend of Pride in New York City, as Captured by Ryan McGinleyFrom Drag March to Dyke March and beyond.
Read more »
Today's mortgage rates rise for 30-year terms whole 15-year terms hold steadyMortgage rates fluctuate almost daily based on economic conditions. Here are today’s mortgage rates and what you need to know about getting the best rate.
Read more »