Tag Archives: Debt Crisis

Debt crises in Europe once more left interest rates for mortgage loans near record lows. Finance Web site Bankrate.com found 30-year fixed-rate mortgages averaging 4.09 percent, down from 4.10 percent last week, alongside a 15-year loan that hit 3.28 percent this week, down from 3.32 percent. Bankrate.com found said that 5-year and 1-year adjustable-rate mortgages meanwhile fell from 3.05 percent last week to 3.03 percent this week. News out of Britain this week found that the bulwark economy slipped into a double-dip recession during the first quarter.

Mortgage applications fell 3.8 percent from the week earlier, according to the Mortgage Bankers Association. The trade group found that application volume waned by 3.3 percent on a seasonally unadjusted basis from the week before. Purchases went up 2.7 percent from one week earlier, climbing by a seasonally unadjusted 3.6 percent in the same vein. Refinance applications declined on the whole. The Refinance Index dipped by 5.6 percent from the week before, as conventional refis slipped by 6.1 percent and government refis climbed down by 2.1 percent.

Debt crises in Europe spurred a wave of refinance applications last week, leading mortgage loan applications to tick up by 6.9 percent, according to the Mortgage Bankers Association. The trade group found that mortgage loan application volume went up 6.9 percent on a seasonally adjusted basis from the week before. The Refinance Index edged up 13.5 percent from the week before, with the refinance share of mortgage activity increasing to 75.2 percent of the share of total activity.

Mortgage rates fell to lows not seen in a month on the heels of an underwhelming jobs report and concerns that Spain may follow Greece into default-scenario territory. Real estate Web site Zillow found interest rates for the 30-year fixed-rate mortgage zigzagging across the country, just as it fell from 3.81 percent to 3.73 percent this week. Rates for the 15-year loan hovered near 2.95 percent, while those for 5-year and 1-year adjustable-rate mortgages slumped to 2.56 percent. The Labor Department flattened expectations by reporting that the economy added only 120,000 jobs in March.

Weak economic news out of Europe and comments from the Federal Reserve chairman last week conspired to keep interest rates for mortgage loans near all-time lows ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and flat ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô for another week. Real estate Web site Zillow found the 30-year fixed-rate mortgage hovering at 3.81 percent, down from 3.88 percent last week. The 15-year loan averaged 3.04 percent, even while the 5-year and 1-year adjustable-rate mortgages hit 2.57 percent. The Web site found mortgage rates zigzagging in states across with the union, with those in California and New York each falling furthest at a clip of 11 basis points.

Higher gasoline prices and concerns about Chinese growth fed bond investments, driving down mortgage rates once again amid worrying signs about the economy. Mortgage giant Freddie Mac found rates for the 30-year fixed-rate mortgage falling from 4.08 percent last week to 3.99 percent this week. The company said the 15-year loan fell from 3.30 percent last week to 3.23 percent this week, a change of pace from 4.09 percent seen year-over-year. Five-year and 1-year adjustable-rate mortgages meanwhile slid from 2.96 percent and 2.84 percent to 2.90 percent and 2.78 percent, respectively.

Housing lingered in the doldrums of a recovery last year but may pick up by 2014 as the U.S. economy generally improves, analysts and economists said Wednesday. The Urban Land Institute polled 38 real estate analysts and economists to signal their expectations for "broad improvements" in the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós economy and real estate markets in 2012. The survey revealed that transaction volume in commercial real estate markets could reach as much as $312 billion in 2014, up from a projected $250 billion in 2012. The news is welcome for an industry that has stayed under a cloud since the crisis.

Mortgage rates continued to show signs of stability this week, with rates for the 30-year fixed-rate mortgage largely repeating a series of bumpy but steady fluctuations. Real estate Web site Zillow fielded 3.88 percent for the 30-year loan, nine basis points down from 3.97 percent last week after a back-and-forth between 3.89 percent and 3.98 percent. The company said that rates for the 15-year loan averaged 3.1 percent this week, with those for 5-year and 1-year adjustable-rate mortgages not far behind at 2.72 percent.

Renewed hope for Europe and the U.S. economy helped interest rates reach their highest peak since December and drove down mortgage applications by 7.4 percent last week. The Mortgage Bankers Association found in a weekly survey that application volume declined by 7.1 percent on a seasonally unadjusted basis from the week earlier. The refinance share of mortgage activity fell to 73.4 percent of total volume, the lowest figure since July last year. The Refinance Index saw declines by 9.3 percent and 4.31 percent for the four-week moving average, respectively.

Good news about the economy and better results in Greece helped reverse declines for still-low mortgage rates for the first time in five months, according to Zillow. The real estate Web site delivered a Mortgage Marketplace report that fielded 3.97 percent for the 30-year fixed-rate mortgage, up 23 basis points from 3.74 percent last week. The interest rate for a 15-year loan climbed to 3.16 percent, just as rates for 5-year and 1-year adjustable-rate mortgages hovered near 2.85 percent. Interest rates for mortgage loans stayed near record lows as a result of the ongoing debt crisis in Europe.