Mortgage Rates Up, Purchase Applications Down

Mortgage rates today fell across the board, with 30-year fixed rates down by eight basis points. Also, mortgage applications fall by 2% week-over-week.

Mortgage rates were slightly higher this week according to Freddie Mac, but the level of mortgage applications for new home purchases during June took a tumble. The 30-year fixed-rate mortgage (FRM) averaged 4.53 percent for the week ending July 12, up from last week when it averaged 4.52 percent.

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1 day ago. “Mortgages rates continued to decline over the holiday-shortened week, with. Purchase applications rose around 5%, with increases for both.

Mortgage applications fell for the fourth week as home owners were in no rush. Yet purchase applications were still up 6% from the same period last. see rates lower for longer, borrowers more of a drop in rates to consider.

After a brief upward turn, mortgage rates are heading down again. This might be the time to refinance your mortgage.. Although purchase applications rose 2 percent over the same week last year.

Mortgage rates rose in the week with the average 30-year mortgage for conforming loans up 6 basis points to 4.56%. Mortgage applications are primarily interest-rate driven. Applications typically.

What Happens To Home Buying Power As Rates Rise? The model assumes a 2.6 percent rise in real home prices. Taking this into account, the typical monthly mortgage payment would rise from $804 to $910, a 13.3 percent increase.

Mortgage applications were down slightly, even after adjusting for the July 4th holiday, as we saw opposing moves in purchase and refinance applications over the week.. Borrowers have been less.

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 · The government shutdown had a notable impact on the mortgage market last week. Purchase applications for government programs dropped by more than 7.