Mortgage interest rates declined for the second time in last three weeks after nearly eight weeks of sharp increases according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 18th, 2013.
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 number of loan modifications completed by Freddie Mac in May remained at about the same levels as in April according to the agency’s recently released Monthly Volume Summary.
Rising mortgage interest rates may have finally convinced perspective home buyers who have been sitting on the fence that now may be the best time to purchase a home as sales over the past thirty days jumped by more than 11k transactions compared to a week ago according to the National Home Sales Snapshot released by DataQuick.
Mortgage interest rates took off again this week after last week’s brief hiatus according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 11th, 2013.