
	Saturday July 19, 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	6.37%	0.02%
15 Yr Fix	5.91%	-0.01%
1 Yr ARM	5.17%	0.00%
5/1 ARM	5.82%	0.04%
30 Yr Tres	4.47%	-0.05%
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 - Has The Worm Turned?

4259 Views - Printer Friendly - Email This Story To A Friend

ADD NEWS TO YOUR WEBSITE

Probably not, more likely he is spinning around until he doesn't know which end is up. But rates were up for the third straight week - except for the 5/1 ARM - for the period ending July 14 (for Freddie Mac) and July 16 (for the Mortgage Bankers Association.)

Three weeks does not a trend make, but given the roller coaster ride borrowers have been on all year, it is at least a bit of a direction!

The increases were, as usual, modest. Freddie Mac's survey showed the 30-year up four basis points to 5.66 percent from one week earlier and the 15-year up 5 basis points to 5.25 percent. Fees and points for the 30-year held constant at 0.6, and the 15 year declined from 0.7 to 0.6. The 1-year adjustable rate mortgage increased from 4.33 percent to 4.39 percent while the 5/1 ARM declined from 5.19 percent to 5.15 percent. Fees and points for those two categories of ARMs stayed at 0.7.

The Mortgage Bankers Association reported that all three of the loans it tracks were up and by slightly larger margins than Freddie Mac saw. The 30-year increased to 5.72 percent from 5.62 percent the previous week although points (which in the case of MBA include the origination fee) declined from 1.26 to 1.14. !5-year fixed-rate mortgages increased from 5.21 percent to 5.28 percent and points dropped .02 to 1.26. One-year ARMS increased to 4.63 percent from 4.56 percent and points also dropped .02 to 0.99 from a week earlier.

Mortgage activity increased slightly - 1.2 percent - from the previous week on a seasonally adjusted basis and nearly 27 percent when unadjusted. The previous week was holiday shortened and represented the first decline in activity in many moons which could account for the large unadjusted increase this week. Application activity was 28.6 percent higher than the same week in 2004.

Refinance activity was up to 45.7 percent of total mortgage applications after a bit of a decline last week and the adjustable rate share of mortgages rebounded a bit to 28.5 percent of all mortgage applications from 27.9 percent the previous week.

Story Views: 4259 | 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.

Trump Talks Economy, Oil and Real Estate

New Evidence of Deceptive Practices at Countrywide

Reader Comments (More)

Double appending my last two messages: As I just said to my wife after reading the headlines about Freddie & Fannie going under: B...
Read

Pointing fingers, throwing blame is NOT going to solve this mortgage mess. Until ALL companies are regulated and required to adher...
Read

Alan hit the nail on the head. Reputable appraisers have seen the current debachle coming for years and been able to do nothing to...
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.