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Mortgage Applications Fall Slightly as Mortgage Rates Pull Back
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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?
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Mortgage Applications Fall Slightly as Mortgage Rates Pull Back
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.
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Mortgage Applications Fall Slightly as Mortgage Rates Pull Back

Mortgage applications continued their slide last week despite a slight decrease in mortgage rates as a drop in refinance applications outweighed a slight increase in purchase applications according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 12th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 2.6 percent last week and follows a 4.0 percent decline from the previous week. An adjustment for the 4th of July holiday was included in the previous week’s survey.

On an unadjusted basis, mortgage loan application volume increased by 22 percent after declining by 23 percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased by one percent after posting a three percent decline the week before. The unadjusted Purchase Index was 26 percent higher than the previous week and was five percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was four percent lower than the previous week after declining by the same amount the week before. Refinance activity is at a two-year low. The refinance share of mortgage activity fell to 63 percent of total applications from 64 percent the week before.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.68

4.68

0.42

0.46

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.81

4.86

0.40

0.37

Decreased
15-Year FRM

3.70

3.76

0.38

0.41

Decreased
FHA 30-Year

4.38

4.37

0.22

0.39

Decreased
5/1 ARM

3.39

3.40

0.37

0.54

Decreased

 
The adjustable-rate mortgage (ARM) share of activity remained at about seven percent of total applications.

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

Source:
Mortgage Bankers Association

Reported by Chris Moore

INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
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BUYING OR SELLING A HOME IS A BIG DECISION
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HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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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

Mortgage applications continued their slide last week despite a slight decrease in mortgage rates as a drop in refinance applications outweighed a slight increase in purchase applications according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 12th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 2.6 percent last week and follows a 4.0 percent decline from the previous week. An adjustment for the 4th of July holiday was included in the previous week’s survey.

On an unadjusted basis, mortgage loan application volume increased by 22 percent after declining by 23 percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased by one percent after posting a three percent decline the week before. The unadjusted Purchase Index was 26 percent higher than the previous week and was five percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was four percent lower than the previous week after declining by the same amount the week before. Refinance activity is at a two-year low. The refinance share of mortgage activity fell to 63 percent of total applications from 64 percent the week before.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.68

4.68

0.42

0.46

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.81

4.86

0.40

0.37

Decreased
15-Year FRM

3.70

3.76

0.38

0.41

Decreased
FHA 30-Year

4.38

4.37

0.22

0.39

Decreased
5/1 ARM

3.39

3.40

0.37

0.54

Decreased

 
The adjustable-rate mortgage (ARM) share of activity remained at about seven percent of total applications.

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

Source:
Mortgage Bankers Association

Reported by Chris Moore

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

Mortgage applications continued their slide last week despite a slight decrease in mortgage rates as a drop in refinance applications outweighed a slight increase in purchase applications according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 12th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 2.6 percent last week and follows a 4.0 percent decline from the previous week. An adjustment for the 4th of July holiday was included in the previous week’s survey.

On an unadjusted basis, mortgage loan application volume increased by 22 percent after declining by 23 percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index increased by one percent after posting a three percent decline the week before. The unadjusted Purchase Index was 26 percent higher than the previous week and was five percent higher than during the same period last year.

Refinance Applications:

The Refinance Index was four percent lower than the previous week after declining by the same amount the week before. Refinance activity is at a two-year low. The refinance share of mortgage activity fell to 63 percent of total applications from 64 percent the week before.

Mortgage Interest Rates:
 

Average Contract Mortgages Rates
(80% loan-to-value)

Type of
Loan

Interest Rate (%)

Points

Effective Rate

Current

Previous

Current

Previous
30-Year FRM Conforming
($417,500 or less)

4.68

4.68

0.42

0.46

Decreased
30-Year FRM Non-Conforming
($417,501 or more)

4.81

4.86

0.40

0.37

Decreased
15-Year FRM

3.70

3.76

0.38

0.41

Decreased
FHA 30-Year

4.38

4.37

0.22

0.39

Decreased
5/1 ARM

3.39

3.40

0.37

0.54

Decreased

 
The adjustable-rate mortgage (ARM) share of activity remained at about seven percent of total applications.

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

Source:
Mortgage Bankers Association

Reported by Chris Moore

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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.
SEARCH FOR A HOME
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

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