Tag Archive for ‘30-year fixed-rate mortgage’

Slight Rebound for Mortgage Demand

Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate was showing a greater constancy than the volatility it had displayed in the prior months, staying between 3.10 percent and 3.20 percent, and dropped in the latest week, falling to 3.09 percent.  Similarly, the MBA’s Market Composite Index sharply rebounded last week by 16 percent from lower activity levels for most of the month. The rebound, as the MBA cites, may have… Read More ›

Mortgage Rates Taper Over the Prior Month, Boosting Refinancing

Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate dipped below the elevated levels shown in April, mirroring a similar decline in Treasury yields. For the week ending May 14, the average 30-year fixed rate mortgage was 3.15%. The MBA’s Market Composite Index, reflective of activity in refinancing and purchase mortgages, changed course compared to… Read More ›

Spring Home-Buying Fervor in Latest MBA Survey

Over the last month, the Mortgage Bankers Association’s (MBA) tracked 30-year fixed-rate mortgage rate continued to show elevated levels. For the week ending April 16, the average rate was 3.2%. For the same period, the MBA’s Market Composite Index (seasonally adjusted) underwent a series of declines, significantly tapering from its levels in March. It is only in the latest week’s… Read More ›

Mortgage Activity Remains Higher Year-over-Year

For the four-week period ending on February 5, 2021, the Mortgage Bankers Association’s (MBA) latest Weekly Application Surveys showed sustained elevated activity, unseen through most of 2020, except at the outset of the COVID-19 pandemic. Additionally, the MBA’s tracked 30-year fixed-rate mortgage hovered a few basis points above 2.9%, reaching 2.96% in the latest week. While Purchasing maintained higher levels… Read More ›

Refinancing Soars in First Full Week of New Year

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending January 8, 2021, mortgage application activity increased by 16.7% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, increased by 8% from the previous week while the other, the… Read More ›

Year-over-Year Gains for Home Purchases Continue

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending December 11, 2020, mortgage application activity decreased by 1.1% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, increased by 1.8% from the previous week while the other, the… Read More ›

Treasury-Mortgage Spread Significantly Narrows in November

In November, the yield on the 10-year Treasury trended upwards while the 30-year fixed-rate mortgage rate, as measured by Freddie Mac’s Primary Mortgage Market Survey (PMMS), continued to fall. Thus, the widely tracked spread between these two indicators, i.e. the spread, narrowed. The above figure shows that, per the latest month’s data, the spread was as low as 179 basis… Read More ›

Record Low Interest Rate Fuels Refinancing Wave

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending November 27, 2020, mortgage application activity decreased by 0.6% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, increased by 9% from the previous week while the other, the… Read More ›

Year-over-Year Gains for Mortgages Continue

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending November 6, 2020, mortgage application activity decreased by 0.5% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, decreased by 3% from the previous week while the other, the… Read More ›