The Mortgage Refinance Index dropped 7.3% compared to the week before and the seasonally adjusted Purchase Index decreased 1.2 % from one week earlier. The unadjusted Home Loan Index fell 2.3% compared with the previous week and was 36.8% lower than the same week one year ago. The decline in total home loan applications was driven [...]
Home loan rates declined again this week, with many reaching the lowest levels in years, according to Freddie Mac’s weekly survey of mortgage rates. They have followed U.S. Treasury yields lower over the past several weeks as investor concern builds about Europe’s economic future. The benchmark 10-year yield touched a 5 1/2-month low Thursday.
Freddie Mac Chief [...]
As the average interest rate for the thirty-year mortgage with a fixed rate fell back toward the 5% mark last week, the Mortgage Bankers Association’s Weekly Mortgage Applications Survey found a corresponding increase in home refinancing applications. For the week ending Jan. 15, 2010, the Market Composite Index, a measure of refinance loan application volume, [...]
