
	Monday October 13, 2008

28,684 Active Members Register

Welcome, Guest Sign In

Home

Latest Headlines

Popular Stories

Bookmark Us

Reader Comments

SUBSCRIBE

SEARCH OUR SITE


30 Yr Fix	5.94%	-0.16%
15 Yr Fix	5.63%	-0.15%
1 Yr ARM	5.15%	0.03%
5/1 ARM	5.90%	-0.10%
30 Yr Tres	4.06%	0.03%
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 Maintain Upward Climb

4715 Views - Printer Friendly - Email This Story To A Friend

ADD NEWS TO YOUR WEBSITE

Mortgages rates were up again during the last week of July, marking the fourth straight week of increases for fixed rate loans and the fifth week for the 1-year adjustable rate mortgages.

Freddie Mac reported that the 30-year fixed mortgage averaged 5.77 percent for the week ended July 28, up 4 basis points from the July 21 average. The 15-year fixed rose to 5.34 percent from 5.32 percent the previous week and points and fees for both fixed rate products bounced back from their year low of 0.4 to 0.5.

The 5/1 ARM rose for the second week in a row to 5.27 percent from 5.26 percent and the 1-year ARM rose 4 basis points to 4.46 percent. Fees and points for the two ARMs were also up 0.1 to 0.6 and 0.7 respectively.

The Mortgage Bankers Association's weekly survey for the week ended July 29 also reported across the board increases. The 30 year fixed increased to 5.83 percent from 5.72 percent but points (including the origination fee) decreased from 1.31 to 1.16 for 80 percent LTV loans. The 15-year product increased to 5.41 percent from 5.32 and points also dropped to 1.13 from 1.25. The average contract rate for 1-year ARMs was at 4.78 percent from 4.70 the previous week. Points also went up slightly from 0.98 to 1.00.

Mortgage application volume was down slightly - 0.3 percent on both an adjusted and unadjusted basis from the previous week - but was still running 20.7 percent above the same week in 2004.

Refinancing activity continued its recent fall. Refi applications represented 41.7 percent of all applications, decreasing 1.2 percent from the previous week. The ARM share of mortgage applications also dropped from 29.4 percent to 28.5.

Story Views: 4715 | 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
(3 New Today)

NEW! The Big Plan

NEW! Plunge Protection

Reader Comments (More)

I'm sorry. I should listen to him because? In my book the Federal Reserve is a Private institution. I question the authority given...
Read

I am very glad to see this article I own a small real estate office and everyday I have people tell me that banks are NOT helping ...
Read

It just a matter of a little more time here folks. Now the servicing companies, etc. are begging people to do loan mods., when, mo...
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.