Freddie Mac and the Mortgage Brokers Association (MBA) reported
small increases in mortgage interest rates last week while HSH Market
Trends found little movement.
In their survey on May 28th, Freddie Mac reported that 30-year
fixed-rate mortgages rose from 3.84% to 3.87%. They also noted that
last year at this time the 30-year rate was at 4.12%. Additional information from Freddie Mac can be found by going to: Primary Mortgage Market Survey PMMS - Freddie Mac
The Mortgage Bankers
Association (MBA) reported on May 27th (for the week ending May 22nd)
that 30-year rates with conforming loan balances ($417,500 or less)
rose to 4.07% from 4.04%. The average contract interest rate for
30-year fixed-rate mortgages with jumbo loan balances (greater than
$417,500) increased from 4.04 to 4.06% while rates for FHA backed
mortgages also moved upward, from 3.80% to 3.83%. Additional information from the Mortgage Bankers Association can be found by going to their site at: Research and Forecasts - Mortgage Bankers Association
Mortgage applications fell 1.6%
from the previous week with the share of refinance applications as a
percentage of all applications falling to 51% from 52% last week. This
was the lowest percentage for refinance applications in one year.
On May 29th, HSH.com Market Trends reported that 30-year mortgage
rates declined to 3.97% from 3.98% the previous week while rates for
FHA-backed mortgages remained at 3.73% for the second straight week. Additional information from HSH can be found by going to: HSH.Com
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