Menu
Share
Share this story
Close X
 
Switch to Desktop Site

Mortgage rates drop 9 points

(Read article summary)
Image

SoldAtTheTop

(Read caption) This chart shows the average interest rate for 30 year and 15 year fixed rate mortgages since 2006.

About these ads

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages as well as the volume of both purchase and refinance applications. 

The purchase application index has been highlighted as a particularly important data series as it very broadly captures the demand side of residential real estate for both new and existing home purchases. 

The latest data is showing that the average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) declined a notable 9 basis points to 3.45% since last week while the purchase application volume increased 4% and the refinance application volume increased 20% over the same period. 


Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.

Loading...