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Mortgage Applications Rebound as Interest Rates Reach New Lows
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You're Now Reading:
Mortgage Applications Rebound as Interest Rates Reach New Lows
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:
Mortgage Applications Rebound as Interest Rates Reach New Lows
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Mortgage Rates

September 14, 2011 (Chris Moore)

Buyers and refinancers took advantage of record low interest rates as mortgage applications for home purchases and refinancing rebounded last week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 9, 2011.

The Market Composite Index, a measure of mortgage loan application volume, which includes purchase applications and refinance applications, increased a seasonally adjusted 6.3 percent from the previous week. This week’s seasonal adjustments account for the Labor Day holiday.

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

30-year fixed-rate mortgage (FRM): The average contract interest rate reached a record low for the survey dating back to October 8, 2010 as interest rates decreased to 4.17 percent from 4.23 percent last week, with points decreasing to 0.97 from 1.04. The effective rate decreased from last week. The survey’s previous low was 4.21 percent.

15-year fixed-rate mortgage (FRM): The average contract interest rate reached a new survey low as interest rates decreased to 3.40 percent from 3.41 percent last week, with points increasing to 1.17 from 0.94. The effective rate increased from last week due to the increase in points.

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 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

September 14, 2011 (Chris Moore)

Buyers and refinancers took advantage of record low interest rates as mortgage applications for home purchases and refinancing rebounded last week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 9, 2011.

The Market Composite Index, a measure of mortgage loan application volume, which includes purchase applications and refinance applications, increased a seasonally adjusted 6.3 percent from the previous week. This week’s seasonal adjustments account for the Labor Day holiday.

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

30-year fixed-rate mortgage (FRM): The average contract interest rate reached a record low for the survey dating back to October 8, 2010 as interest rates decreased to 4.17 percent from 4.23 percent last week, with points decreasing to 0.97 from 1.04. The effective rate decreased from last week. The survey’s previous low was 4.21 percent.

15-year fixed-rate mortgage (FRM): The average contract interest rate reached a new survey low as interest rates decreased to 3.40 percent from 3.41 percent last week, with points increasing to 1.17 from 0.94. The effective rate increased from last week due to the increase in points.

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 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.

September 14, 2011 (Chris Moore)

Buyers and refinancers took advantage of record low interest rates as mortgage applications for home purchases and refinancing rebounded last week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 9, 2011.

The Market Composite Index, a measure of mortgage loan application volume, which includes purchase applications and refinance applications, increased a seasonally adjusted 6.3 percent from the previous week. This week’s seasonal adjustments account for the Labor Day holiday.

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

30-year fixed-rate mortgage (FRM): The average contract interest rate reached a record low for the survey dating back to October 8, 2010 as interest rates decreased to 4.17 percent from 4.23 percent last week, with points decreasing to 0.97 from 1.04. The effective rate decreased from last week. The survey’s previous low was 4.21 percent.

15-year fixed-rate mortgage (FRM): The average contract interest rate reached a new survey low as interest rates decreased to 3.40 percent from 3.41 percent last week, with points increasing to 1.17 from 0.94. The effective rate increased from last week due to the increase in points.

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 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.