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Tag Archives: Adjustable-Rate Mortgage

Mortgage Rates Slam Into New Holiday Lows

Interest rates for mortgage loans slammed into new lows just before a holiday break, with investors hewing close to the safety of U.S. Treasury debt. Finance Web site Bankrate.com and mortgage company Freddie Mac released their findings in separate weekly surveys. Freddie Mac found the 30-year loan falling to 3.91 percent this week, the lowest this year, as it rocketed past a previous rock-bottom rate of 3.94 percent. Bankrate.com meanwhile found the 30-year fixed-mortgage reaching a second all-time low for the week, as rates for the loan ticked up from 4.19 percent to crest at 4.20 percent.

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Mortgage Applications Fall 2.6% From Week Before: MBA

Mortgage applications fell 2.6 percent from the week before as mortgage rates slammed into news lows, the Mortgage Bankers Association said Wednesday. The Market Composite Index, a measure of loan application volume, contracted by 2.8 percent on a seasonally unadjusted basis from the week before, while the Refinance Index fell 1.6 percent during the same time frame. The Purchase Index meanwhile dropped 4.9 percent on a seasonally adjusted basis from the week earlier, compared with a 7.5-percent shortfall for the same on a seasonally unadjusted basis.

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Zillow Releases Mortgage Rates This Week

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In line with record-low mortgage rates, Zillow found interest rates for the 30-year fixed-rate loan hovering around 3.78 percent this week. The real estate finance Web site culled figures from anonymous online quotes, which it used in the Zillow Mortgage Marketplace. The rate for a 15-year loan stayed around 3.11 percent, with rates for 5-year and 1-year adjustable-rate mortgages nearing 2.52 percent. By state, mortgage rates also fell nationally, with New York leading the way in a decline by 13 basis points from last week.

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Mortgage Rates Hit Record Lows. Again

Lack of action from the Fed on monetary policy, wrangling in the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Capitol, and ongoing problems overseas helped push mortgage rates to new record lows this week. Finance Web site Bankrate.com recorded an all-time low for the 30-year fixed-rate mortgage, which slammed into 4.19 percent, down from 4.24 percent. Mortgage giant Freddie Mac countered with rates for the benchmark loan that again fell to 3.94 percent, down from 3.99 percent from the week before.

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Mortgage Applications Top Off at 4.1%: MBA

Mortgage application volume leapt to 4.1 percent from the week before on the strength of a boom in refinance applications, according to the Mortgage Bankers Association. The trade group released its data in a Weekly Mortgage Applications Survey for the week. The MBA├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Market Composite Index noted a 4.2-percent increase on a seasonally unadjusted basis from the week before, with 9.3 percent for the Refinance Index and 8.2 percent in declines for the seasonally adjusted Purchase Index.

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Mortgage Rates Largely Unchanged This Week. Again

Mortgage rates remained largely unchanged this week as debt crises in Europe drag on, with finance leaders and heads of state there seemingly unable to broker a solution. Mortgage giant Freddie Mac and finance Web site Bankrate.com each released separate surveys chronicling lurches in interest rates for loans. Bankrate.com also fielded record lows for jumbo 30-year fixed-rate mortgages, with rates for the loan falling to 4.68 percent for the first time in the history of the survey.

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Mortgage Applications Jump 12.8% on Low Rates

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Low interest rates for mortgage loans drove up mortgage application volume 12.8 percent on a seasonally adjusted basis from the week before. The Mortgage Bankers Association reported the latest figures in a weekly survey released Wednesday. Mortgage applications shot up 60.2 percent on an unadjusted basis in contrast with figures from the previous week. The Refinance Index climbed 15.3 percent from the week before, as the Purchase Index ticked up 8.3 percent on a seasonally adjusted basis.

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Europe’s Crises Keep Mortgage Rates at a Standstill

Mortgage rates largely stayed the same this week as trouble in the euro zone threatened to upend global financial markets, encouraging investors to stay near the safe haven of U.S. Treasury debt. Mortgage giant Freddie Mac and finance Web site Bankrate.com released separate weekly surveys that found rates hovering at or above figures seen for several weeks in a row. The GSE noted averages for the 30-year fixed-rate mortgage reaching 4 percent ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the fifth consecutive week for lows for the benchmark loan.

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International RMBS, CMBS Sales Impacting Banks Globally

In international news, the sale of securitized bonds is causing concern for the secondary market. Analysts from Morgan Stanley released a recent report indicating that securities earmarked for sale by the European banks holding the bonds could reach as high as $470 billion. For struggling companies, rising costs for funding and capital have weakened their positions, leading to the sale of assets; the institutions seeking to liquidate securities holdings encompass lenders focused on deleveraging and distressed banks.

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Thirty-Year Loan Falls Lowest in Seven Weeks: Zillow

With the global economy overshadowed by debt crises, fleeing investors keep mortgage rates at record lows, as Zillow reaffirmed Tuesday. The real estate Web site polled its online audience, reporting that the benchmark 30-year fixed-rate mortgage hit 3.8 percent, the lowest rate in seven weeks. A dearth for the 30-year fixed-rate loan reflects a fall by 10 basis points, down from 3.9 percent last week. The 15-year fixed-rate mortgage likewise hovered around 3.16 percent.

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