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Mortgage Rates Stable But Applications Continue to Fall
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You're Now Reading:
Mortgage Rates Stable But Applications Continue to Fall
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Mortgage Rates Stable But Applications Continue to Fall
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Mortgage interest rates showed little movement over the last week but mortgage applications during that time continued to fall according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 7.1 percent and follows a 4.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume fell seven percent after falling by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index fell by four percent from last week after declining by three percent the week before, while the unadjusted Purchase Index was three percent lower than the previous week. The unadjusted Purchase Index was still six percent higher than during the same period last year.

Refinance Applications:

The Refinance Index declined eight percent from last week after decreasing by five percent the week before. The refinance share of mortgage activity fell from 76 percent of total applications the previous week to 75 percent last week.

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)

3.82

3.81

0.38

0.39

Increased

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

3.95

3.90

0.36

0.46

Increased

15-Year FRM

3.02

3.01

0.36

0.42

Decreased

FHA 30-Year

3.53

3.53

0.31

0.38

Decreased

5/1 ARM

2.59

2.62

0.40

0.33

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about five 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

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ADVANTAGES OF USING
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

Mortgage interest rates showed little movement over the last week but mortgage applications during that time continued to fall according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 7.1 percent and follows a 4.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume fell seven percent after falling by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index fell by four percent from last week after declining by three percent the week before, while the unadjusted Purchase Index was three percent lower than the previous week. The unadjusted Purchase Index was still six percent higher than during the same period last year.

Refinance Applications:

The Refinance Index declined eight percent from last week after decreasing by five percent the week before. The refinance share of mortgage activity fell from 76 percent of total applications the previous week to 75 percent last week.

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)

3.82

3.81

0.38

0.39

Increased

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

3.95

3.90

0.36

0.46

Increased

15-Year FRM

3.02

3.01

0.36

0.42

Decreased

FHA 30-Year

3.53

3.53

0.31

0.38

Decreased

5/1 ARM

2.59

2.62

0.40

0.33

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about five 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

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.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

Mortgage interest rates showed little movement over the last week but mortgage applications during that time continued to fall according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15th, 2013.

The Market Composite Index, which measures mortgage loan application volume including purchase applications and refinance applications, declined a seasonally adjusted 7.1 percent and follows a 4.7 percent decline from the previous week.

On an unadjusted basis, mortgage loan application volume fell seven percent after falling by four percent the week before.

Purchase Applications:

The seasonally adjusted Purchase Index fell by four percent from last week after declining by three percent the week before, while the unadjusted Purchase Index was three percent lower than the previous week. The unadjusted Purchase Index was still six percent higher than during the same period last year.

Refinance Applications:

The Refinance Index declined eight percent from last week after decreasing by five percent the week before. The refinance share of mortgage activity fell from 76 percent of total applications the previous week to 75 percent last week.

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)

3.82

3.81

0.38

0.39

Increased

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

3.95

3.90

0.36

0.46

Increased

15-Year FRM

3.02

3.01

0.36

0.42

Decreased

FHA 30-Year

3.53

3.53

0.31

0.38

Decreased

5/1 ARM

2.59

2.62

0.40

0.33

Decreased

The adjustable-rate mortgage (ARM) share of activity remained at about five 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 Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
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.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.