woodbury: Refinance Woodbury, MN - Refinance Activity Reaches Three Year High
- 07/26/12 02:56 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity rose 2.0 percent last week, reaching its highest level since April 19, 2009. The increase followed a 22 percent surge the week before and pushed the refinance share of total mortgage activity up to 81 percent. But, despite the gains in refinance demand, the Market Composite Index, which measures total mortgage loan application volume, was up just 0.9 percent due to a 3.0 percent drop in the seasonally adjusted Purchase Index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was unchanged, resting at 3.74 percent. … (0 comments)
woodbury: Refinance Woodbury, MN - Refinance Activity Surges As Rates Drop Again
- 07/20/12 05:32 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance demand surged last week as mortgage rates fell to yet another survey low. The Refinance Index rose 22 percent from the week before and is near its highest level this year. Michael Fratantoni, MBA’s vice president of research and economics, said refinance application volume increased to near peak levels as mortgage rates dropped due to growing concern about the economy. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 3.74 percent from 3.79 percent the week before. Because of the spike in refinance activity, the … (0 comments)
woodbury: Refinance Woodbury, MN - Mortgage Demand Dips As Rates Fall To New Low
- 07/18/12 02:10 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures both refinance and purchase loan application volume, fell 2.1 percent last week. But, though the Refinance Index suffered a 3.0 percent decline from the previous week’s levels, the seasonally adjusted Purchase Index increased by the same amount, gaining 3.0 percent from the week before. Mortgage rates, on the other hand, hit new all-time lows. The average contract interest rate for 30-year, fixed-rate mortgages with conforming loan balances fell to 3.79 percent from 3.86 percent. In June, the average loan size for home purchase was $240,897. Last … (0 comments)
woodbury: Refinance in Woodbury, MN - Refinance Activity Surges 13 Percent As Rates Fall
- 05/17/12 04:12 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures total mortgage loan application volume, was up 9.2 percent last week due to a 13.0 percent surge in the Refinance Index. The seasonally adjusted Purchase Index, however, fell 2.4 percent from the previous week. Michael Fratantoni, MBA’s vice president of research and economics, said the increase in refinance activity was due to a spike in the conventional sector and not because of rising government loan demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to another new low, dropping to 3.96 … (0 comments)
woodbury: Refinance Woodbury, MN - Refinancing Homeowners Maintain Or Reduce Mortgage Debt In 1st Quarter
- 05/14/12 12:56 AM
New data from Freddie Mac finds 79 percent of homeowners who refinanced their mortgage during the first quarter of 2012 reduced or maintained their principal balance. The number of borrowers who were able to maintain about the same loan amount after refinancing was the highest in the 26 years Freddie Mac has been tracking the data. Frank Nothaft, Freddie Mac’s vice president and chief economist, said the typical borrower reduced their mortgage rate by 1.5 percent which, on a $200,000 loan, would save them nearly $3,000 over 12 months. Also, HARP loans accounted for 20 percent of Freddie Mac’s refinance fundings … (0 comments)
woodbury: Refinance Woodbury, MN - Mortgage Application Demand Rises As Rates Fall To New Low
- 05/14/12 12:54 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures both refinance and purchase loan activity, rose 1.7 percent last week from the week before. The increase was due to growing demand for conventional rather than government loans. Demand in the government market was down last week but, despite the dip, the Purchase Index rose 3.4 percent and the Refinance Index increased 1.3 percent. The refinance share of all mortgage activity was 72.1 percent. The average contract interest rate for 30-year fixed-rate mortgages fell to 4.01 percent from 4.05 percent the week before. It was the lowest … (0 comments)
woodbury: Refinance Woodbury, MN - Refinance Activity Surges As Mortgage Rates Drop
- 04/20/12 01:22 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity increased 13.5 percent last week and pushed the refinance share of all mortgage activity up to 75.2 percent. The spike in refinance activity helped the Market Composite Index, which measures total mortgage application volume, climb 6.9 percent from the week before despite a 11.2 percent drop in the Purchase Index. Jay Brinkmann, MBA’s chief economist, said a drop in rates last week led to the boom in refinance applications. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.05 percent from 4.10 percent the week … (0 comments)
woodbury: Refinance Woodbury, MN - Mortgage Rates Fall To Lowest Level In A Month
- 04/16/12 01:20 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage rates fell to their lowest level since March 9 last week. The average contract interest rate for 30-year fixed-rate mortgages dropped to 4.10 percent from 4.16 percent the week before. But, despite the drop, the Market Composite Index, which measures total mortgage loan application volume, was also down, slipping 2.4 percent from the week before. Both the Refinance and Purchase Index decreased slightly, though no adjustment was made for Good Friday. Also in the report, the refinance share of mortgage activity was 70.5 percent and the share of applications for investment properties … (0 comments)
woodbury: Buy a house in Woodbury, MN - Homes More Affordable Than Anytime In 20 Years
- 02/27/12 01:38 AM
Homes are more affordable now than anytime in the past 20 years, according to the National Association of Home Builders Housing Opportunity Index. The index measures the percentage of homes affordable to a family making the national median income of $64,200. During the fourth quarter of last year, more than 75 percent of all the new and existing homes sold nationwide were affordable, the highest percentage in the index’s 20-year history. Barry Rutenberg, chairman of the National Association of Home Builders, said that report indicates that homeownership is within the reach of more households than it has been for more than two … (0 comments)
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance activity rose 2.0 percent last week, reaching its highest level since April 19, 2009. The increase followed a 22 percent surge the week before and pushed the refinance share of total mortgage activity up to 81 percent. But, despite the gains in refinance demand, the Market Composite Index, which measures total mortgage loan application volume, was up just 0.9 percent due to a 3.0 percent drop in the seasonally adjusted Purchase Index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances was unchanged, resting at 3.74 percent. … (0 comments)
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