Falling Mortgage Rates Spur Application Frenzy

  • 📰 WSJ
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Mortgage rates are at their lowest level in three years. BenEisen takes a look at what you need to know before applying for a mortgage. WSJWhatsNow

The volume of mortgage applications surged by 27% last week, the biggest weekly rise in more than four years, according to a survey released Wednesday by the Mortgage Bankers Association.

Refinances were up 47% from the previous week, according to the Mortgage Bankers Association. Purchase applications were up 10% over the span, and many expect a continued boost in home sales as a result. Rates for 30-year fixed mortgages fell below 4% in recent weeks for their first time since 2017, and were most recently at 3.82%, according to a weekly average maintained by the government mortgage giant Freddie Mac . Mortgage rates typically track the yield on the benchmark 10-year Treasury note, which has flagged recently, as investors reconsider the current U.S. growth outlook.

About a year later, they went to refinance at the suggestion of Ms. Murray’s mother, a real-estate agent. Having built up 20% equity in the house, they avoided insurance and got a rate of 3.99% from their lender, Sanborn Mortgage Corp.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

BenEisen How about that you can pay for it

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly mortgage refinances fall further, despite lower interest ratesInterest rates resumed their retreat last week, but that did not boost mortgage demand. Mortgage application volume decreased 3.1% for the week.
Source: CNBC - 🏆 12. / 72 Read more »

How to buy a house with bad creditIt's possible to buy a house with bad credit, but you will likely end up paying a higher mortgage rate.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The Big Short's Michael Burry says he has found the next market bubbleMichael Burry, one of the first investors to call and profit from the subprime mortgage crisis, is seeing a similar bubble in passive investing, according to Bloomberg News. Truth. christi82950003 Ericardo4
Source: CNBC - 🏆 12. / 72 Read more »

Lloyds Banking Group lands $4.5 billion Tesco Bank mortgage portfolioLloyds Banking Group has agreed to buy Tesco Bank's 3.7 billion pounds ($4....
Source: Reuters - 🏆 2. / 97 Read more »