Mortgage Applications Increase as Rates Sink

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Mortgage Applications Increase as Rates Sink

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 Increase as Rates Sink

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 Increase as Rates Sink

December 6, 2012 (Chris Moore)

Mortgage applications for both home purchases and refinances increased last week as three out of the five mortgage rate categories either matched or set record lows according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 30, 2012.

The Market Composite Index, a measure of mortgage loan application volume including purchase applications and refinance applications, increased a seasonally adjusted 4.5 percent from the previous week and follows a 0.9 percent decline the week before.

On an unadjusted basis, the Index increased by 49 percent from the previous week and follows a 24 percent decline from the week before due to the Thanksgiving holiday.

Purchase Applications:

The seasonally adjusted Purchase Index climbed 0.1 percent from the previous week after climbing by three percent the week before, while the unadjusted Purchase Index increased by 36 percent over the previous week, which was noticeably higher than the previous week due to the Thanksgiving holiday the week before. The unadjusted Purchase Index was 0.1 percent lower than at the same time a year ago.

Refinance Applications:

The Refinance Index increased six percent from the previous week after posting a decline of two percent the week before. The refinance share of mortgage activity moved up to 83 percent of total applications from 81 percent the week before.

Mortgage Interest Rates:

Average Contract Mortgages Rates (80% loan-to-value)
Type of Loan	Interest Rate (%)		Points		Effective Rate
Type of Loan	Current	Previous	Current	Previous	Effective Rate
30-Year FRM Conforming ($417,500 or less)	3.52*	3.53	0.41	0.40	Decreased
30-Year FRM Non-Conforming ($417,501 or more)	3.79	3.75	0.32	0.31	Increased
15-Year FRM	2.86*	2.89	0.27	0.35	Decreased
FHA 30-Year	3.34*	3.36	0.62	0.65	Decreased
5/1 ARM	2.62	2.60	0.40	0.37	Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity fell to three percent of total applications.

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

Source:
Mortgage Bankers Association

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

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

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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.

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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 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.

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December 6, 2012 (Chris Moore)

On an unadjusted basis, the Index increased by 49 percent from the previous week and follows a 24 percent decline from the week before due to the Thanksgiving holiday.

Purchase Applications:

Refinance Applications:

Mortgage Interest Rates:

Average Contract Mortgages Rates (80% loan-to-value)
Type of Loan	Interest Rate (%)		Points		Effective Rate
Type of Loan	Current	Previous	Current	Previous	Effective Rate
30-Year FRM Conforming ($417,500 or less)	3.52*	3.53	0.41	0.40	Decreased
30-Year FRM Non-Conforming ($417,501 or more)	3.79	3.75	0.32	0.31	Increased
15-Year FRM	2.86*	2.89	0.27	0.35	Decreased
FHA 30-Year	3.34*	3.36	0.62	0.65	Decreased
5/1 ARM	2.62	2.60	0.40	0.37	Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity fell to three percent of total applications.

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

Source:
Mortgage Bankers Association

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

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

HOME SELLING TIPS

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

December 6, 2012 (Chris Moore)

On an unadjusted basis, the Index increased by 49 percent from the previous week and follows a 24 percent decline from the week before due to the Thanksgiving holiday.

Purchase Applications:

Refinance Applications:

Mortgage Interest Rates:

Average Contract Mortgages Rates (80% loan-to-value)
Type of Loan	Interest Rate (%)		Points		Effective Rate
Type of Loan	Current	Previous	Current	Previous	Effective Rate
30-Year FRM Conforming ($417,500 or less)	3.52*	3.53	0.41	0.40	Decreased
30-Year FRM Non-Conforming ($417,501 or more)	3.79	3.75	0.32	0.31	Increased
15-Year FRM	2.86*	2.89	0.27	0.35	Decreased
FHA 30-Year	3.34*	3.36	0.62	0.65	Decreased
5/1 ARM	2.62	2.60	0.40	0.37	Increased

*Record Survey Low

The adjustable-rate mortgage (ARM) share of activity fell to three percent of total applications.

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

Source:
Mortgage Bankers Association

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

HOME SELLING TIPS

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