Mortgage rates drop to lowest level since 2013

Mortgage rates drop to lowest level since 2013

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) decreased to 4.96 percent, the lowest level since September, from 5.08 percent, with points increasing to 0.48 from 0.44 (including the origination fee) for loans with 20 percent down payments.

Mortgage Rates Fall To Lowest Level Since June 2013. The upshot is that American borrowers could once again benefit from global growth jitters. The Mortgage Bankers Association reported Wednesday that the rate on the average 30-year fixed-rate loan fell to 4.2% last week, from 4.3% the week before. Rates stood as high as 4.72% at the beginning of the year.

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Mortgage rates reached a new low for 2014 this week at 3.89% for a 30-year fixed-rate mortgage. Average weekly rates are now at their lowest level since May 30, 2013, according to the Primary.

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Low mortgage rates have many people thinking about buying a new home or refinancing. Don’t jump too fast, though. There are times it may not pay off. SUBSCRIBE By Michelle Fox, CNBC The recent drop in.

The #1 shared article for mortgages over the last week is The Wall Street Journal’s post from October 15th: mortgage rates fall To Lowest Level Since June 2013. Mortgage rates hitting a 16-month low last week is causing a stir, at least in social media. declining interest rates present another good opportunity to buy a home, or refinance a.

On the back of "underwhelming" economic news, the average rate for the popular 30-year fixed-rate mortgage just dropped to 3.89%, the lowest reading since May 2013, according to a Thursday.

U.S. Mortgage Applications Surge; 30-year Rate Below 4 Percent: MBA Lowest mortgage rates in a year and a half don't impress homebuyers – “Mortgage rates dropped to their lowest level since the first week of 2018, driven by increasing concerns regarding the ongoing trade tensions.

It’s the lowest 30-year rates have been since late May 2013 and a full three-quarters of a percent below what 30-year mortgages were averaging one year ago this week. The average on 15-year fixed-rate mortgages also fell this week to its lowest point over the same 20-month stretch, dropping to an average of 2.93 percent.

Mortgage applications are soaring-a direct result of last week’s significant drop. since just last week. Refinance loans made up almost half of all mortgage applications in that time period. As.

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