Mortgage Applications Rebound as Interest Rates Reach New Lows

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Mortgage Applications Rebound as Interest Rates Reach New Lows

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

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Mortgage Applications Rebound as Interest Rates Reach New Lows

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 Rebound as Interest Rates Reach New Lows

September 14, 2011 (Chris Moore)

Buyers and refinancers took advantage of record low interest rates as mortgage applications for home purchases and refinancing rebounded last week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 9, 2011.

The Market Composite Index, a measure of mortgage loan application volume, which includes purchase applications and refinance applications, increased a seasonally adjusted 6.3 percent from the previous week. This week’s seasonal adjustments account for the Labor Day holiday.

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

30-year fixed-rate mortgage (FRM): The average contract interest rate reached a record low for the survey dating back to October 8, 2010 as interest rates decreased to 4.17 percent from 4.23 percent last week, with points decreasing to 0.97 from 1.04. The effective rate decreased from last week. The survey’s previous low was 4.21 percent.

15-year fixed-rate mortgage (FRM): The average contract interest rate reached a new survey low as interest rates decreased to 3.40 percent from 3.41 percent last week, with points increasing to 1.17 from 0.94. The effective rate increased from last week due to the increase in points.

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 percent the previous week.

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

Sources:
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.

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September 14, 2011 (Chris Moore)

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 percent the previous week.

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

Sources:
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

September 14, 2011 (Chris Moore)

On an unadjusted basis, the Index decreased 15.4 percent compared with the previous week. The four week moving average for the seasonally adjusted Market Index is down 2.9 percent.

Purchase Applications:

The seasonally adjusted Purchase Index increased 7.0 percent from the previous week. The four week moving average is up 0.5 percent for the adjusted Purchase Index.

The unadjusted Purchase Index decreased 16.2 percent compared with the previous week, and is 7.2 percent lower than the same week one year ago.

Refinance Activity:

The Refinance Index increased for the first time in three weeks, gaining 6.0 percent from the previous week. The four week moving average is down 3.9 percent.

The refinance share of mortgage activity increased to 77.3 percent of total applications from 77.1 percent the previous week.

Mortgage Interest Rates:

Mortgage interest rates are based on 80 percent loan-to-value (LTV) ratio loans. Points include the origination fee.

ARMs:

The adjustable-rate mortgage (ARM) share of activity decreased to 6.9 percent of total applications from 7.1 percent the previous week.

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

Sources:
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