
	Friday July 25, 2008

26,235 Active Members Register

Welcome, Guest Sign In

Home

Latest Headlines

Popular Stories

Bookmark Us

Reader Comments

SUBSCRIBE

SEARCH OUR SITE


30 Yr Fix	6.63%	0.37%
15 Yr Fix	6.18%	0.40%
1 Yr ARM	5.49%	0.39%
5/1 ARM	6.16%	0.36%
30 Yr Tres	4.70%	0.04%
Fed Prime	5.00%	-0.25%
Mortgage Rates \| Blog

MND Features

-	Wiki
-	Video News
-	Mortgage License Information
-	Real Estate License Information
-	Mortgage Content Syndication
-	Mortgage Fraud
-	Housing Bubble

News Archives

Submit A News Tip
or Story Idea

Free Subscription To News Alerts
Stay up to date on breaking news with our free News Alert Service.

Home Loan Mortgage Rates Continue To Drop

4794 Views - Printer Friendly - Email This Story To A Friend

ADD NEWS TO YOUR WEBSITE

The Freddie Mac Weekly Primary Mortgage Market Survey marked a third consecutive week of decline for most of the mortgage products it tracks. This was the seventh drop for mortgage interest rates in eight weeks.

The 30-year fixed rate mortgage was down to 5.65 percent from 5.71 the previous week, its lowest mark since the week ended February 17. The 15-year fixed hit 5.21 percent, down 0.6 from a week earlier and, again, the lowest since February 17. The survey reported that both mortgage products carried points and fees of 0.6, down 0.1 from the previous week and from the previous February 17 figure.

The 5/1 hybrid ARM was unchanged at 5.07 (with 0.7 in fees) but the 1-year ARM dropped .05 percent to 4.21 from the week of May 19. The 1-year ARM has been more volatile week-to-week than other products so the drop only brought it into a tie with the rate for the week ending April 28.

The Mortgage Banker's Association's Weekly Mortgage Applications Survey for the week ending May 27 placed 30-year fixed rate mortgages at 5.61 percent, down from 5.63 the previous week and 15-year fixed at 5.13 percent, a .11 drop from one week earlier. The MBA's 1-year ARM was way down, 4.09 percent from 4.21 the week ending May 20.

MBA's Market Composite Index, a measure of mortgage loan application volume, decreased 2.8 percent on a seasonally adjusted basis from a week earlier but was up 12.7 from the same week in 2004.

Refinancing as a percent of total loan applications continued a multi-week climb, representing 41.2 percent of the market (this in spite of widespread predictions that refinancing would represent only about one-third of the market by this time). Adjustable rates mortgages, however, declined 1.5 percent to 33.3 percent of total applications, about where early 2005 predictions had assumed.

Story Views: 4794 | Permalink

Story Tools

Email This Story To A Friend

Subscribe To News Alerts

Related Tags

Select a Tag for more information related to that Tag. (View All Tags)

Comments (0)

No Comments At This Time

Post A Comment

Please fill out the form below to submit a comment.

Name:
(Required - Type Anonymous or Use First Name Only if Private)

Email Address:
(Not Required So No Fake Emails Please.)

URL or Weblog:
(Leave Blank If You Don't Have One - Use http://)

Comments:
(Please keep comments on topic. No HTML Allowed. No Advertisng.)
Please Note: Due to Comment Spam, all comments are reviewed by hand. Most comments will appear shortly after submission but it may take up to 12 hours to appear. If you would like to come back, click here to Bookmark the page.
PLEASE DO NOT USE ALL CAPS

Character Count = (5000 Character Limit)

If you would like to leave a longer comment, please submit your comments in 5000 character increments and we will merge your comments.

Notify me via email when my comment is approved.

Note: Please don't bother spamming. All submissions are reviewed by our our editorial staff. Comment spam and irrelevant links will not be approved.

NEW VIDEO
(6 New Today)

NEW! Ron Paul on American Economy

NEW! Defending the Housing Bill

Reader Comments (More)

You know, Not all felons are repeat offenders. I have a felony from 17 years ago and have been in the mortgage buisness for more t...
Read

It is true that there have been unfair or deceptive acts and practices by sub-prime Lenders although, not necessarily by Lenders o...
Read

All I know is that I have not been able to get lenders appraisal work for the last 10 years. If lenders do not consider the person...
Read

Home - Contact - Sitemap - Disclaimer - Privacy Statement - Advertising

All Content Copyright © 2003 - 2008 Brown House Media, Inc. All Rights Reserved.
Reproduction in whole or in part in any form without the express written permission of MortgageNewsDaily.com is prohibited.