Interest Rates Creep Up
The interest rates creep up after this weeks survey of the 30 year fixed rates by .03 percent. I know that is not much. None of the recent changes have been much in any direction. In other words these are what we get ion newspaper headlines when the market is flat.
Likewise the 15 year fixed rose even less at .01 percent. Remember this is off a survey by Freddie Mac. Do you consider that a change when based on a surver?
The 5 year arm rose a huge .01 percent also.
The amount of applications for loans dropped 1.2 percent over the past week based on the Mortgage Bankers Association survey. The big drop off was in FHA and VA loans. Here you will see 35.5 percent change. Now that does indicate we have come into the fall real estate market and fewer buyers are in the market.