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Mortgage Applications Decline as Interest Rates Increase
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Applications Decline as Interest Rates Increase
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Applications Decline as Interest Rates Increase

June 22, 2011(Chris Moore)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 17, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent from the previous week as a rise in interest rates causes mortgage applications to lose steam.

On an unadjusted basis, the Index decreased 6.2 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is up 0.4 percent.

The seasonally adjusted Purchase Index decreased 2.8 percent from one week earlier. The four week moving average is down 0.7 percent for the seasonally adjusted Purchase Index. The unadjusted Purchase Index decreased 3.9 percent compared with the previous week and was 4.4 percent higher than the same week one year ago.

The Refinance Index decreased 7.2 percent from the previous week. The four week moving average is up 0.8 percent.

The refinance share of mortgage activity increased to 69.2 percent of total applications from 70.0 percent last week.

The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent from 6.1 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.57 percent from 4.51 percent last week, with points decreasing to 0.91 from 1.05 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.70 percent from 3.67 percent last week, with points decreasing to 1.05 from 1.06 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
MBA

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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June 22, 2011(Chris Moore)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 17, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent from the previous week as a rise in interest rates causes mortgage applications to lose steam.

On an unadjusted basis, the Index decreased 6.2 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is up 0.4 percent.

The seasonally adjusted Purchase Index decreased 2.8 percent from one week earlier. The four week moving average is down 0.7 percent for the seasonally adjusted Purchase Index. The unadjusted Purchase Index decreased 3.9 percent compared with the previous week and was 4.4 percent higher than the same week one year ago.

The Refinance Index decreased 7.2 percent from the previous week. The four week moving average is up 0.8 percent.

The refinance share of mortgage activity increased to 69.2 percent of total applications from 70.0 percent last week.

The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent from 6.1 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.57 percent from 4.51 percent last week, with points decreasing to 0.91 from 1.05 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.70 percent from 3.67 percent last week, with points decreasing to 1.05 from 1.06 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
MBA

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 22, 2011(Chris Moore)

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 17, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.9 percent from the previous week as a rise in interest rates causes mortgage applications to lose steam.

On an unadjusted basis, the Index decreased 6.2 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is up 0.4 percent.

The seasonally adjusted Purchase Index decreased 2.8 percent from one week earlier. The four week moving average is down 0.7 percent for the seasonally adjusted Purchase Index. The unadjusted Purchase Index decreased 3.9 percent compared with the previous week and was 4.4 percent higher than the same week one year ago.

The Refinance Index decreased 7.2 percent from the previous week. The four week moving average is up 0.8 percent.

The refinance share of mortgage activity increased to 69.2 percent of total applications from 70.0 percent last week.

The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent from 6.1 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 4.57 percent from 4.51 percent last week, with points decreasing to 0.91 from 1.05 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.70 percent from 3.67 percent last week, with points decreasing to 1.05 from 1.06 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Tags: MBA, home purchase applications, mortgage rates, fixed rate mortgage, adjustable rate mortgage, refinance, interest rate

Sources:
MBA

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS