
	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.

Mortgage Rates Mixed But General Trend Still Downward

6916 Views - Printer Friendly - Email This Story To A Friend

ADD NEWS TO YOUR WEBSITE

Fixed rate mortgages declined again last week and a decrease in fees and points helped to offset slight increases in some adjustable rate products.

Freddie Mac reported that the 30-year fixed rate mortgage dropped from 5.65 percent to 5.62 percent and the 15-year inched down to 5.20 percent from 5.21 percent the previous week. Fees and points for both products averaged 0.6, unchanged from the week ended May 26.

Both of the adjustable rate projects tracked by Freddie bumped up a bit. The 5/1 ARM increased .03 percent to 5.10 percent and the 1-year ARM was at 4.26 percent from 4.21 the previous week. Fees and points, however, dropped to 0.5 from 0.7 for the 5-year hybrid and were down 0.1 to 0.6 for the 1-year ARM.

The Mortgage Bankers Association (MBA) survey results were somewhat similar. 30-year fixed rate mortgages were down to 5.55 percent from 5.61 percent. Both the 15-year fixed and 1-year ARM were steady at 5.13 percent and 4.09 percent respectively.

The Market Composite Index, a measure of mortgage loan application volume, was up 6.5 percent on a seasonally adjusted basis (including an adjustment for the Memorial Day holiday and up a whopping 31.5 percent compared with the same week in 2004.

The refinancing share of total mortgage activity rose again to 42.9 percent, the highest since March while adjustable rate mortgages slipped to 31.7 percent of all applications from 33.3 percent the previous week.

Story Views: 6916 | 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)

Let’s face it. It seems that each time the government introduces new laws to combat real estate fraud someone introduces innovat...
Read

Throwing more laws at the problem a only a bandage for a gushing wound. I am a Florida lawyer working with more and more people ev...
Read

Nobody has been able or willing to mark to market. At this time it is impossible. From what I understand about Paulson, his approa...
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.