Mortgage applications on the rise!

By
Real Estate Agent with Coldwell Banker RS318386

Mortgage applications increased last week driven by a significant uptick in applications for purchase mortgages. Refinance volume rose only fractionally.  Overall, applications for mortgages, as measured by the Mortgage Bankers Association's (MBA's) Market Composite Index increased 2.3 percent during the week ended May 20 on a seasonally adjusted basis and were up 2.0 percent unadjusted.  This increase of application really had no impact on the 30 year interest rate which moved up only .02%.

 

National Average Mortgage Rates

  Rate Change Points
Mortgage News Daily
30 Yr. Fixed 3.74% +0.02 0.40
15 Yr. Fixed 2.99% 0.00 0.40
30 Yr. Jumbo 3.74% +0.01 0.00
Freddie Mac
30 Yr. Fixed 3.58% +0.01 0.60
15 Yr. Fixed 2.81% 0.00 0.50
5/1 ARM 2.80% +0.02 0.50
Mortgage Bankers Assoc.
30 Yr. Fixed 3.82% -0.05 0.34
15 Yr. Fixed 3.06% -0.07 0.33
30 Yr. Jumbo 3.74% -0.05 0.31
Rates as of: 5/24

MBS and Treasury Market Data

  Price / Yield Change
MBS FNMA 3.0 102.16 -0.02
MBS GNMA 3.0 103.28 0.00
10 YR Treasury 1.8680 +0.0030
30 YR Treasury 2.6530 +0.0070
Pricing as of: 5/25 9:18AM EST
 

Recent Housing Data

    Value Change
Mortgage Apps May 11 490.5 +0.43%
Building Permits Mar 1.09M -7.73%
Housing Starts Mar 1.09M -8.79%
New Home Sales Mar 511K -1.54%
Existing Home Sales Mar 5.33M +5.13%

 

 

Coal Infantino

Coldwell Banker

(717) 676-5545

Posted by

Coal Infantino

Coldwell Banker

1499 S.Queen St York, PA 17403

(717) 854-9242 Office

(717) 676-5545 Cell

Callcoalyork@gmail.com

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South Central Pennsylvania Realtors
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Mimi Foster
FALCON PROPERTY SOLUTIONS - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Thanks for sharing this information, Coal. That looks like it will bode well for the real estate market.

May 26, 2016 03:47 PM #1
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Coal Infantino

Realtor specializing in south central PA
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