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You're Now Reading:
Low Rates Fuel Big Jump in Mortgage Applications
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Low Rates Fuel Big Jump in Mortgage Applications
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Low Rates Fuel Big Jump in Mortgage Applications
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

January 18, 2012 (Chris Moore)

Mortgage applications for both purchases and refinances made a big jump this week as fixed mortgage rates dropped to their lowest level in survey history according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2012.

The Market Composite Index, a measure of mortgage loan application volume which includes purchase applications and refinance applications, increased a seasonally adjusted 23.1 percent from the previous week. The results from last week’s report included an adjustment for the New Year’s holiday.

On an unadjusted basis, the Index increased 38.1 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 5.99 percent.

“Interest rates dropped last week due to continuing anxieties regarding the fragile economic situation in Europe,” said Michael Fratantoni, MBA’s vice president of research and economics. “With mortgage rates reaching new lows, refinance volume jumped and MBA’s refinance index reached its highest level in the last six months. Purchase activity also increased as buyers returned to the market after the holiday season.”

Purchase Applications:

The seasonally adjusted Purchase Index increased 10.3 percent from the previous week. The four week moving average is up 1.96 percent for the adjusted Purchase Index.

The unadjusted Purchase Index increased 28.4 percent compared with the previous week and was 2.2 percent higher than the same week a year ago.

Refinance Applications:

The Refinance Index increased 26.4 percent from the previous week. The four week moving average for the Index is up 7.00 percent. Refinance activity was at its highest level since August of last year.

The refinance share of mortgage activity increased to 82.2 percent of total applications from 80.8 percent the previous week, the highest share of refinance activity since October of 2010.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.06*

4.11

0.48

0.41

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.40

4.34*

0.37

0.47

Increased
15-Year FRM

3.33

3.39

0.37

0.37

Decreased
FHA 30-Year

3.91*

3.96

0.59

0.72

Decreased
5/1 ARM

2.90

2.90

0.45

0.49

Decreased

*Survey record low

The adjustable-rate mortgage (ARM) share of activity increased to 5.6 percent of total applications from 5.4 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

January 18, 2012 (Chris Moore)

Mortgage applications for both purchases and refinances made a big jump this week as fixed mortgage rates dropped to their lowest level in survey history according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2012.

The Market Composite Index, a measure of mortgage loan application volume which includes purchase applications and refinance applications, increased a seasonally adjusted 23.1 percent from the previous week. The results from last week’s report included an adjustment for the New Year’s holiday.

On an unadjusted basis, the Index increased 38.1 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 5.99 percent.

“Interest rates dropped last week due to continuing anxieties regarding the fragile economic situation in Europe,” said Michael Fratantoni, MBA’s vice president of research and economics. “With mortgage rates reaching new lows, refinance volume jumped and MBA’s refinance index reached its highest level in the last six months. Purchase activity also increased as buyers returned to the market after the holiday season.”

Purchase Applications:

The seasonally adjusted Purchase Index increased 10.3 percent from the previous week. The four week moving average is up 1.96 percent for the adjusted Purchase Index.

The unadjusted Purchase Index increased 28.4 percent compared with the previous week and was 2.2 percent higher than the same week a year ago.

Refinance Applications:

The Refinance Index increased 26.4 percent from the previous week. The four week moving average for the Index is up 7.00 percent. Refinance activity was at its highest level since August of last year.

The refinance share of mortgage activity increased to 82.2 percent of total applications from 80.8 percent the previous week, the highest share of refinance activity since October of 2010.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.06*

4.11

0.48

0.41

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.40

4.34*

0.37

0.47

Increased
15-Year FRM

3.33

3.39

0.37

0.37

Decreased
FHA 30-Year

3.91*

3.96

0.59

0.72

Decreased
5/1 ARM

2.90

2.90

0.45

0.49

Decreased

*Survey record low

The adjustable-rate mortgage (ARM) share of activity increased to 5.6 percent of total applications from 5.4 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

January 18, 2012 (Chris Moore)

Mortgage applications for both purchases and refinances made a big jump this week as fixed mortgage rates dropped to their lowest level in survey history according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2012.

The Market Composite Index, a measure of mortgage loan application volume which includes purchase applications and refinance applications, increased a seasonally adjusted 23.1 percent from the previous week. The results from last week’s report included an adjustment for the New Year’s holiday.

On an unadjusted basis, the Index increased 38.1 percent from the previous week. The four week moving average for the seasonally adjusted Market Index is up 5.99 percent.

“Interest rates dropped last week due to continuing anxieties regarding the fragile economic situation in Europe,” said Michael Fratantoni, MBA’s vice president of research and economics. “With mortgage rates reaching new lows, refinance volume jumped and MBA’s refinance index reached its highest level in the last six months. Purchase activity also increased as buyers returned to the market after the holiday season.”

Purchase Applications:

The seasonally adjusted Purchase Index increased 10.3 percent from the previous week. The four week moving average is up 1.96 percent for the adjusted Purchase Index.

The unadjusted Purchase Index increased 28.4 percent compared with the previous week and was 2.2 percent higher than the same week a year ago.

Refinance Applications:

The Refinance Index increased 26.4 percent from the previous week. The four week moving average for the Index is up 7.00 percent. Refinance activity was at its highest level since August of last year.

The refinance share of mortgage activity increased to 82.2 percent of total applications from 80.8 percent the previous week, the highest share of refinance activity since October of 2010.

Mortgage Interest Rates:

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.06*

4.11

0.48

0.41

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.40

4.34*

0.37

0.47

Increased
15-Year FRM

3.33

3.39

0.37

0.37

Decreased
FHA 30-Year

3.91*

3.96

0.59

0.72

Decreased
5/1 ARM

2.90

2.90

0.45

0.49

Decreased

*Survey record low

The adjustable-rate mortgage (ARM) share of activity increased to 5.6 percent of total applications from 5.4 percent the previous week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
Mortgage Bankers Association

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.