Are record-low interest rates masking high-cost mortgage lending?

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
W S

Mortgage applications rise 4.5%

/ Print / Reprints /
| Share More
/ Text Size+
Mortgage applications edged up 4.5% last week when compared to a week earlier, an industry trade group said Wednesday. The Mortgage Bankers Association released its market composite index, which shows applications up 4.5%. Refinancing activity also grew with the refinance index increasing 3.3% from a week earlier. The purchase index also grew 8.1%, while the unadjusted purchase index is now 41.9% higher than last year. Refinancing activity overall represented 80.8% of all new mortgage applications, down from 81.9% a week earlier. Interest rates still remain well below 5% with the 30-year, fixed-rate mortgage with a conforming loan limit edging up to 4.11%, compared to 4.07% a week ago. The average interest rate on a 30-year, FRM with a jumbo-loan balance declined to 4.34% from 4.41% the previous week. The average 30-year, FRM backed by the FHA remained unchanged at 3.96%. In addition, the 15-year, fixed-rate mortgage increased to 3.40% from 3.37%, while the 5/1 ARMs rate declined to 2.90% from 2.91% last week. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus