Refinance applications rise as rates fall to a seven-month low

A decline in refinancings led to a drop in mortgage application volume last week, even though purchase activity continues to rise, according to the Mortgage Bankers Association. The MBA’s Weekly Mortgage Applications Survey for the week ending July 5 found that submitted applications was down by 2.4% as the refinance index decreased 7% from the [.]

 · Current Mortgage Interest Rates. Freddie Mac’s weekly report covers mortgage rates from the previous week, but interest rates change daily – mortgage rates today may be different than reported. To find out what rates are currently available, compare quotes from multiple lenders.

Mortgage applications decreased 0.5 percent from one week earlier as interest rates rose.. mortgage applications Fall as Rates Rise to Highest Level in Month (iStock). The refinance share of mortgage activity decreased to 50.8 percent of total applications from 52.1 percent the previous.

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Rising interest rates dragged refinancing applications down 9 percent during the week ended August 17 according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.

So you want to refinance, but mortgage rates are rising. Don’t worry – you haven’t missed the boat on your refi opportunity. Mortgage rates are still historically low, and they aren’t expected to exceed 5% in 2017, according to many economists and mortgage analysts. Here are eight tips to help you successfully refinance your mortgage as rates rise.

Total mortgage application. fee) for loans with a 20% down payment. “Concerns over European economic growth and ongoing uncertainty about a trade war with China were some of the main factors that.

Mortgage applications rise 1.5 percent, as interest rates fall to 2017 low. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) decreased to 4.28 percent from 4.34 percent, with points increasing to 0.38 from 0.31 (including the origination fee) for 80 percent loan-to-value ratio loans.

Applications. have rates below 4 percent, according to CoreLogic. Even those homeowners who want to tap some of the newfound equity in their home, given the sharp rise in home values, are more.

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Can I Refinance My Home With No Income Verification? When the housing market tanked, "stated income" loans were much to blame. Often, would-be homeowners applied for these loans simply by stating their income and signing on the dotted line.