According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates remained low last week. In fact, rates were mostly flat across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans.
Low rates didn't spur a spike in demand, though, as homebuyers and homeowners looking to refinance largely stayed level from the week before. Still, though demand was relatively unchanged from one week earlier, the previous week ended at a new high for the year, which means demand for loans to buy homes remains 9 percent higher than at the same time last year. Lynn Fisher, MBA's vice president of research and economics, told CNBC that lower rates are encouraging for Americans looking to make a move. “Both the 10-year Treasury yield and the 30-year conventional mortgage fixed rate held steady last week keeping rates well below the recent highs,” Fisher said. “The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance and to assist those ready to purchase.”
The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications.
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Author:Tim Stoll Phone: 214-868-2959 Dated: June 23rd 2017 Views: 12 About Tim: It’s hard to find another real estate agent in Dallas who is as hard working, honest, educated, ex...
It’s hard to find another real estate agent in Dallas who is as hard working, honest, educated, experienced and personable as Tim Stoll .
Born in Milwaukee, Wisconsin Tim came to Texas as a corporate Relo over 18 years ago. Real estate has been a great passion of Tim since a young age. Being a full time REALTOR® the past 14 years and in one of the best cities in the world, Dallas Texas and helping hundreds of people achieve their goals and reach their dreams of owning a home.
Tim Stoll is an expert in many areas of real estate including foreclosure homes, investment properties, first time home buying and quick sales. Having experience in all parts of residential real estate including buying and selling.
Millennial homeownership rates dropped in past decadeA newly released
"I highly recommend Tim to help you with any your real estate needs. He has so much experience in the industry, knows the markets, and this sector from the financial side, so it’s a perfect mix you should want in a Realtor.