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The 30 year fixed mortgage rate fell, week over week, from 4.89 percent to an average contract rate of 4.63 percent. The 4.63 percent 30 year fixed rate is the lowest recorded by the Mortgage Bankers Association since it began its weekly survey in 1990.The 15 year fixed mortgage rate also fell, week over week, from 4.52 percent to an average contract rate of 4.52 percent.Finally the one year adjustable mortgage rates, the only rate to increase, jumped up from 6.20 percent to an average contract rate of 6.22 percent.Mortgage applications surged 32.2 percent as mortgage rates have become very beneficial … (0 comments)
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