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Mortgage Applications Remain Steady

An increase in applications to refinance current mortgages gave a very slight boost to the total number of applications reported last week while applications for home purchases continued to slump according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 11th, 2013.

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Interest Rates on FHFA Mortgages Continue to Rise

The average interest rates for conventional 30-year fixed rate mortgages jumped from 4.27 percent in July to 4.49 percent in August according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, an increase of 22 basis points.

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