Mortgage News & Market Update
03 September 2008
What did our interest rates do this week? Lower
What did everyone's rates across the country do?
Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July at 6.35 percent, according to Freddie Mac's weekly nationwide survey.
Weekly Application Survey Reported by Mortgage Bankers Association - www.mbaa.org
Please note that on the National Average the 30 year fixed is at 6.39% with 1.00 Points on 80% LTV & 15 year fixed is at 5.96% with 1.03 Points on 80% LTV. - JPM
WASHINGTON, D.C. (August 20, 2007) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 15, 2007:
The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.39 percent from 6.44 percent, with points decreasing to 1.0 from 1.03 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.
The average contract interest rate for 15-year fixed-rate mortgages increased to 5.96 percent from 5.94 percent, with points decreasing to 1.03 from 1.13 (including the origination fee) for 80 percent LTV loans.
Have a Great Weekend
Ray Levy
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