Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
W S
Lending

Mortgage applications rise 4.5% on increased refinancings

The number of mortgage applications filed in the U.S. shot up 4.5% for the week ending Nov. 30 as more Americans turned to refinancing, an industry trade group said.

The Mortgage Bankers Association reported that its refinance index increased 6% from the previous week, while the purchase index edged up 0.1%.

The refinancing share of mortgage activity also increased to 83% of total applications, up from 81% a week earlier. Refinancing activity tied to the Home Affordable Refinance Program represented 27% of all refinancing applications.      

A person taking out a 30-year, fixed-rate mortgage with a conforming loan balance last week saw their average rate fall to 3.52%, matching the rate's historical record low.

The average 30-year, FRM on a jumbo loan increased to 3.79%, up from 3.75%.

In addition, the average 30-year, FRM backed by the FHA fell to 3.34%, its lowest level in the survey's history.

Furthermore, the average contract rate for a 15-year, FRM declined to another record low of 2.86% from 2.89% a week earlier.

The 5/1 ARM rate, meanwhile, increased to 2.62%, up from 2.60% last week.

kpanchuk@housingwire.com

Recent Articles by Kerri Panchuk

Comments powered by Disqus